Spot Bitcoin ETFs Experience $1.72 Billion in Outflows
- Spot Bitcoin exchange-traded funds (ETFs) recorded approximately $1.72 billion in net outflows for the week ending June 5.
- This marks the fourth consecutive week of over $1 billion in redemptions, totaling $483.8 million, $519.1 million, and $396.6 million in the first three days of June.
- In contrast, spot Ether ETFs saw outflows of $173 million during the same period, contributing to a total loss of about $885.6 million over four weeks.
- HYPE ETFs recorded net inflows of $16.65 million, while XRP ETFs had modest inflows of $2.62 million.
The ongoing outflows from both Bitcoin and Ether ETFs reflect broader market dynamics rather than specific issues within cryptocurrencies themselves, as noted by industry experts.
The recent trends highlight a significant shift in investor sentiment, with Bitcoin ETFs experiencing a notable decline after strong inflows earlier this year, evidenced by the four-week redemption streak totaling over $1 billion.(Source)
