Bitcoin spot ETFs have been experiencing significant net outflows, with the trend continuing for seven consecutive days.
On June 24, the products witnessed a total net outflow of $174 million, according to data from Farside Investors.
Grayscale ETF GBTC accounted for a net outflow of $90.4295 million in a single day, contributing to the overall figures. The total net asset value of the Bitcoin spot ETF currently stands at $51.53 billion.
Data from Farside Investors reveals that spot bitcoin ETFs have suffered the largest outflows over a two-week period since the approval of U.S. spot bitcoin ETFs in January.
Investors have withdrawn a net total of $1.1 billion from these funds during this timeframe.
On June 24, the Bitcoin spot ETF had a total net outflow of $174 million, with net outflows for seven consecutive days. Grayscale ETF GBTC had a net outflow of $90.4295 million in a single day, and the total net asset value of the Bitcoin spot ETF was $51.53 billion.…
— Wu Blockchain (@WuBlockchain) June 25, 2024
Digital asset investment products, as a whole, experienced a second consecutive week of outflows, amounting to $584 million, according to a report from CoinShares.
The pessimism among investors regarding potential interest rate cuts by the Federal Reserve is believed to be a contributing factor.
Last week also saw the lowest trading volumes on ETPs globally since the launch of U.S. ETFs in January, with a total of just $6.9 billion traded throughout the week.
The United States witnessed the largest outflows, with $475 million being withdrawn, while Canada also experienced significant outflows amounting to $109 million.
Germany and Hong Kong observed outflows of $24 million and $19 million, respectively.
However, Switzerland
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