Record Outflows Hit U.S. Spot Bitcoin ETFs Amid Inflation Concerns
- U.S. spot Bitcoin ETFs experienced $630.4 million in net outflows on May 13, marking the largest daily exit in over three months.
- BlackRock’s IBIT led the losses with $284.7 million in redemptions, followed by ARKB with $177.1 million and FBTC with $133.2 million.
- The outflows reversed a five-week inflow streak that had accumulated approximately $3.8 billion through early May.
- April’s CPI rose to 3.8%, sparking concerns about potential Federal Reserve rate hikes and contributing to the sell-off.
The significant outflows from U.S. spot Bitcoin ETFs were primarily driven by inflation data that shifted market expectations regarding Federal Reserve policies, leading to risk aversion among institutional investors.
This marks a notable shift from recent inflow trends, highlighting investor caution amid economic uncertainty and potential policy changes affecting risk assets like Bitcoin ETFs.
(Source)
