The U.S. Spot Bitcoin ETF experienced a significant setback on June 10 with an outflow of $65 million, breaking a 19-day streak of consistent inflows.
This shift was primarily driven by a $39.5 million withdrawal from GrayScale’s GBTC, followed by outflows of $20.5 million from Invesco Galaxy’s BTCO and $15.8 million from Valkyrie Bitcoin ETF (BRRR).
These sudden withdrawals have raised concerns amid volatile Bitcoin trading and ahead of the Federal Reserve’s anticipated decision on interest rates.
Historically, the Bitcoin ETF had been gaining traction as a hedge against economic uncertainty, attracting significant investor capital.
However, recent robust U.S. job data has stirred fears of a delay in rate cuts, contributing to investor unease.
The ETF’s outflow reflects broader market anxieties tied to macroeconomic trends and regulatory expectations. Investors now await the U.S. CPI inflation data and the FOMC interest-rate decision for further direction.
The long-term importance of this development lies in understanding how macroeconomic factors and Fed decisions will shape investor behavior towards Bitcoin ETFs.
