Bitcoin ETFs experience another significant outflow of $152 million on June 18, 2024. There was no recorded inflow in any US Bitcoin ETFs, a trend that has been consistent recently. The most affected funds were Grayscale (GBTC) and Fidelity (FBTC), with Grayscale seeing outflows of $62.3 million and Fidelity experiencing an even larger outflow of $83 million.
This marks the fourth consecutive day of negative net inflows for Bitcoin ETFs, reflecting the trend of investors withdrawing their money from these financial products over the past few days and weeks.
The outflows from Bitcoin ETFs are indicative of the market’s general sentiments and issues, with investors exercising caution due to market fluctuations and regulatory ambiguity.
As Bitcoin ETFs continue to face these challenges, market observers will be watching closely to see if this trend changes or if outflows persist in the days ahead. The sustained negative net inflow could have a significant impact on the Bitcoin-related financial product system.
The behavior of outflows suggests that investors are currently more wary of the risks associated with Bitcoin ETFs. If this trend continues, it could signal fundamental issues in the cryptocurrency market or broader economic concerns.