Bitcoin ETFs in the US have seen major outflows for seven consecutive days, with none recording any inflows as of June 24. This trend has resulted in a total outflow of $174.5 billion, contributing to over $1 billion in outflows in the last ten days.
Grayscale Bitcoin ETF (GBTC) led Monday’s outflows with $90.4 million, bringing its total outflows to nearly $18.5 billion. Fidelity’s FBTC followed with $35 million in outflows, consistently seeing reductions since mid-June. BlackRock’s IBIT, despite zero inflows recently, has not recorded any outflows since inception.
The fading excitement around spot Bitcoin ETFs and declining institutional interest amid global market uncertainty are evident. Last week, Bitcoin investment products saw $630 million in outflows.
Bitcoin’s price correction contrasts sharply with the steady climb of the Nasdaq index, which has gained over 20% year-to-date. For Bitcoin to rally again, it needs a strong liquidity infusion catalyst, potentially from a Fed pivot.
The long-term importance lies in understanding market dynamics and the impact of institutional behavior on Bitcoin’s future.
