30 days, $6.35B gone – What’s happening with Bitco
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30 days, $6.35B gone – What’s happening with Bitcoin ETFs?
The Spot exchange-traded funds (ETFs) have been experiencing a prolonged period of negative performance.
Galaxy Research reports that net outflows of $6.35 billion over the past 30 days have caused U.S. spot Bitcoin [BTC] ETFs to record their worst monthly performance since their inception.
This number is the highest of all 582 rolling 30-day periods that the firm tracks, highlighting a notable exodus of institutional capital from Bitcoin investment products.
If the trend continues, such prolonged outflows could lessen the short-term demand support for Bitcoin prices. Needless to say, these outflows usually indicate waning investor sentiment, profit-taking, or a more general shift toward risk-off positioning.
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