Bitcoin ETF

Bitcoin

Zero

Billion

<a href="https://bitcoinworld.co.in/bitcoin-etfs-outflows-exceeded-1-billion-with-zero-inflows-institutions-in-panic/" title="Bitcoin ETFs Outflows Exceeded $1 Billion With Zero Inflows, Institutions In Panic?" rel="noopener noreferrer nofollow"></a>
Bitcoin ETFs outflows have now exceeded $1 billion in the last ten days with zero inflows. The total outflows from Grayscale’s GBTC exceeded $18.4 billion since inception. BTC price flirts with $60,000.
<ul>
 <li style="font-weight: 400">Bitcoin ETFs recorded $170 million outflows with BlackRock’s IBIT recording zero inflows on Monday.</li>
 <li style="font-weight: 400">Bitcoin investment products saw over $600 million flowing out as institutional players panic.</li>
 <li style="font-weight: 400">Bitcoin’s underperformance with the US stock market continues as NASDAQ registers steady gains.</li>
</ul>
As the Bitcoin (BTC) price continues to hit lows, the spot Bitcoin ETFs in the US continue to witness major outflows for seven days in a row.&nbsp;
On Monday, June 24, the total outflows across all nine spot <a href="https://bitcoinworld.co.in/bitcoin-takes-a-beating-another-630-million-exits-price-drops-lower/" rel="noopener noreferrer nofollow">Bitcoin</a> ETFs was $174.5 billion, with none of the ETFs recording any kind of inflows.&nbsp;
In the last ten days, the total outflows from the spot Bitcoin ETFs have exceeded $1 billion.
<h3 id="span-style-font-weight-400-bitcoin-etfs-continue-to-bleed-span">Bitcoin ETFs Continue to Bleed</h3>
After seeing $545 million in outflows, Bitcoin ETFs continue to bleed starting this week.&nbsp;
Contributing to Monday’s outflows, Grayscale Bitcoin ETF GBTC recorded the most outflows at $90.4 million, as per data from Farside Investors. This has brought the total outflows from GBTC since inception, almost closer to $18.5 billion.
<a href="https://www.fidelity.com/etfs/fbtc" rel="noopener noreferrer nofollow">Fidelity’s FBTC</a> suffered the second-biggest blow with $35 million in outflows on Monday. Since mid-June, FBTC has been seeing consistent outflows with the AUM dropping under $10 billion.
While several other Bitcoin ETFs have registered outflows, BlackRcok’s IBIT hasn’t recorded a single outflow since its inception. However, there have been multiple instances of zero inflows recently.
Well, this current sell-off clearly shows that the early excitement around the launch of the spot Bitcoin ETFs seems to be waning.&nbsp;
Also, Bitcoin institutional interest has been dropping with the global market uncertainty. Last week, Bitcoin investment products registered $630 million worth of outflows.
<h3 id="span-style-font-weight-400-bitcoin-underperforms-the-us-stock-market-span">Bitcoin Underperforms the US Stock Market</h3>
Amid the current BTC price correction, there’s been a huge divergence with the US stock market, especially the Nasdaq index.&nbsp;
As we know, Bitcoin kicked-off the year 2024 with impressive gains following the launch of spot Bitcoin ETFs. However, the Q2 has been more of a consolidation phase as the BTC price remains range-bound.
On the other hand, since mid-May, the NASDAQ continued to show a steady climb extending its year-to-date gains to more than 20%. This clearly shows that the tech stocks have an edge over Bitcoin.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Bitcoin started the year with a bang. It outpaced the stock market significantly thanks to the launch of the ETFs.
 But the recent trends show a divergence: • Bitcoin – Despite the early gains, BTC is now range-bound. • NASDAQ – Steady climb since mid-May, 20%+ returns YTD.… <a href="https://t.co/ER72ut4irj" rel="noopener noreferrer nofollow">pic.twitter.com/ER72ut4irj</a>
 — ecoinometrics (@ecoinometrics) <a href="https://twitter.com/ecoinometrics/status/1805277686157496476?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 24, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
For the Bitcoin price rally to continue, it needs a strong catalyst in the form of liquidity infusion. Any signal of Fed pivot could lead to a strong reversal on the upside.

Bitcoin ETFs Outflows Exceeded $1 Billion With Zero Inflows, Institutions In Panic?

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ItsBitcoinWorld

Інші статті, опубліковані 26 черв. 2024 р.

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