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06/23 07:04

30 days, $6.35B gone – What’s happening with Bitco

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. Winners and losers of Bitcoin ETF During these 30 days, BlackRock’s IBIT experienced the biggest outflows, totaling $4.51 billion, making it the loser of the month. Morgan Stanley’s MSBT, on the other hand, saw $1.25 billion in inflows after winning in these 30 days. While this happened, Bitcoin’s price dropped from about $76K in early May to $64K at the time of publication. As can be seen, it’s the Bitcoin price that triggered the outflows, which caused the price to move from a bullish to a bearish zone. How other ETFs are performing? While Bitcoin ETFs experienced a difficult period, spot Ethereum [$ETH] ETFs also saw $1.149 billion outflows. In the $ETH space too, BlackRock’s ETHA saw the largest outflows, while Fidelity’s FETH saw the largest inflows.#2026 World Cup Posting Challenge on HTX Square #HTX Creation Challenge — Post and Win 1,500U 💥

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