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    Home » Bitcoin ETF sees outflows for fourth consecutive day
    Bitcoin

    Bitcoin ETF sees outflows for fourth consecutive day

    By adminJun. 19, 2024No Comments2 Mins Read
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    Bitcoin ETF sees outflows for fourth consecutive day
    Bitcoin ETF sees outflows for fourth consecutive day
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    The US spot Bitcoin ETF has experienced a difficult few days, with a noticeable decline in investor interest.

    Registered on Tuesday, there was a net outflow of $15.242 billion, marking the fourth consecutive day of outflows. Leading the outflows was FBTC, a fund under Fidelity, with an outflow of $830,000. Additionally, Grayscale’s GBTC and Bitwise’s BITB also saw significant outflows of $620,000 and $70,000 respectively.

    Bitcoin ETF Tracker | 2024-06-18
    Daily net inflow total -$152.42M
    Total trading value $1.70B
    Total net assets $56.06B
    ETF market value ratio 4.38%
    Net inflow/outflow per ETF
    ⬜️ IBIT $0
    ⬜️ ARKB $0
    ⬜️ BTCO $0
    ⬜️ BTCW $0
    ⬜️ BRRR $0
    ⬜️ EZBC $0
    ⬜️ Holding $0
    ⬜️…

    However, the financial activities of the remaining eight ETFs in this category seem to have not experienced significant changes. These 11 spot Bitcoin ETFs still report a net inflow of $1.481 billion, a significant decrease from the $1.569 billion recorded on July 15.

    Read more:


    Bernstein indicates that major financial institutions will start accepting Bitcoin.

    Surprisingly, despite a waning enthusiasm for crypto ETFs, their total trading volume on Tuesday reached $170 million, compared to $124 million on Monday.

    Over the past twenty-four hours, the price of Bitcoin has not seen significant changes, trading at $65,250. Additionally, according to analysts at CryptoQuant, the world’s largest cryptocurrency may soon be on a downward trend as it has broken through important support levels.

    There are rumors of a potential 8%-12% pullback in Bitcoin in the short term, with prices expected to drop to around $60,000 per coin. Of course, this prediction should not be considered definite, as cryptocurrencies are highly volatile assets.

    One thing is clear: the recent outflows from the US spot Bitcoin ETF indicate how fickle investor sentiment can be in the world of cryptocurrencies. It will be interesting to see how these investment platforms adapt to the changing market and whether they can regain investor trust in the long run.

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