Bitcoin spot ETFs have recently experienced significant capital outflows, according to SoSoValue, an AI-driven investment research platform. On July 3rd, the net outflow from BTC ETFs amounted to $20.445 million, as announced on their official social media channels. SoSoValue interprets this development as indicative of a slight waning in investor interest.
Headlined “Bitcoin Spot ETFs Record $20.4495 Million Net Outflow”
In its latest communication, SoSoValue underscored the alarming rise in outflows, while also emphasizing that a detailed analysis of the data reveals deeper insights. Individual exchange-traded funds reportedly paint a more nuanced picture, with Grayscale’s GBTC ETF leading the pack in outflows.
According to SoSoValue, GBTC saw outflows totaling $26.9947 million in a single day, marking a significant movement of funds away from this particular ETF. Conversely, Fidelity’s FBTC experienced inflows, with approximately $6.5451 million flowing into the fund.
“BTC ETFs’ Net Asset Value Reflects Positive Sentiment”
SoSoValue further commented on the broader Bitcoin ETF market landscape, asserting that despite recent movements, the cumulative net asset value of BTC spot ETFs remains robust at $51.872 billion. This figure suggests that investors continue to show interest in BTC exposure through ETFs.
