back to top
Tuesday, June 11, 2024
HomeCryptoUS Bitcoin Spot ETF breaks 19-day inflow streak with outflow of $64.93...

US Bitcoin Spot ETF breaks 19-day inflow streak with outflow of $64.93 million

The 11 U.S. spot Bitcoin ETF saw daily net inflows of $64.93 million on Monday, ending the longest streak of 19 consecutive days recording inflows since launch.

Grayscale’s GBTC led the outflow with a total value of $40 million. COther funds also saw investor divestments on Monday, with Invesco and Galaxy Digital’s BTCO losing $20 million. Valkyrie’s fund also reported a net outflow of $16 million while Fidelity’s FBTC lost $3 million, marking the first outflow since May 2.

Source: SosoValue

BlackRock’s IBIT, the largest spot Bitcoin ETF by net assets, recorded net inflows of $6 million, while Bitwise’s BITB recorded $8 million.

The record 19-day streak of capital inflows that ended last Friday accumulated more than $4 billion. Since their inception in January, the 11 spot Bitcoin ETFs have recorded a total net inflow of $15.62 billion.

According to crypto trading firm QCP Capital, Bitcoin prices fell last Friday after the release of non-farm payrolls data and US unemployment data. eventsn conflicting expectations about the US economy, causing uncertainty causes investors to withdraw from riskier assets.

Markets are anticipating US Consumer Price Index (CPI) data, the main inflation gauge, as well as the Federal Open Market Committee meeting scheduled for later this week.

While CME Group forecasts there is a 99.4% chance that the Fed will maintain the current interest rate of 5.25% to 5.5% instead of easing, a Reuters poll of economists shows that the Fed is likely to cut interest rates twice this year, starting in September.

Meanwhile, US Ethereum ETF issuers still waiting for response from the Securities and Exchange Commission on their S-1 registration statement, which requires approval to officially launch the transaction.

Annie

According to The Block

Mark Tyson
Mark Tyson
Freelance News Writer. Always interested in the way in which technology can change people's lives, and that is why I also advise individuals and companies when it comes to adopting all the advances in Apple devices and services.
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Fresh