Bitcoin ETFs experienced a negative net outflow of $140 million on June 20, 2024, marking the fifth consecutive day of outflows. Among the various ETFs, only BlackRock’s IBIT saw a small positive inflow of $1.5 million. Grayscale’s GBTC, on the other hand, had the highest outflow of the day at $53 million, contributing to a total outflow of $232 million in the last five days alone. Fidelity’s FBTC also experienced a significant outflow of $413 million during this period.
These net outflows indicate that investors are withdrawing more assets from Bitcoin ETFs than they are investing in them. This could suggest a change in investor sentiment or strategy towards Bitcoin investments.
The significant outflows from popular ETFs like Grayscale and Fidelity highlight investor wariness of Bitcoin ETFs. However, there is a small positive note for BlackRock’s IBIT, which received a modest inflow during this challenging period.
Overall, these recent trends reflect a cautious attitude among investors towards Bitcoin ETFs, with significant net outflows observed over the past week.
