Spot Bitcoin ETFs Experience $1.72 Billion in Outflows
- Spot Bitcoin 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 nearly $2 billion since May 15.
- Outflows were particularly high during the first three days of June, with losses of $483.8 million, $519.1 million, and $396.6 million.
- Spot Ether ETFs also faced significant outflows, shedding $173 million during the same period.
- In contrast, HYPE ETFs saw inflows of $16.65 million while XRP ETFs gained modestly by $2.62 million.
The recent outflows from both Bitcoin and Ether ETFs reflect broader macroeconomic factors rather than specific issues within the cryptocurrency market, as noted by industry experts.
With Bitcoin ETFs experiencing a total of four weeks of redemptions amounting to over $2 billion, this trend highlights shifting investor sentiment amid changing economic conditions.(Source)
