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The US Saw the Largest Outflow From Spot Bitcoin ETFs Since January
On the first trading day of the week, US-listed spot Bitcoin exchange-traded funds (ETFs) recorded one of the sharpest daily outflows of the year.According to SoSoValue data, spot Bitcoin ETFs recorded a net outflow of $648.6 million on Monday.This marks the largest single-day outflow since January 29.
The outflow followed a total net outflow of $1 billion recorded last week, ending a six-week streak of continuous positive inflows into spot Bitcoin ETFs.The largest outflow was seen in BlackRock’s IBIT fund, one of the world’s largest asset management firms, which posted a net outflow of $448.3 million.It was followed by Ark & 21Shares’ ARKB fund with a net outflow of $109.6 million.
Fidelity’s FBTC fund also recorded a net outflow of $63.4 million.Negative capital flows were also observed in funds managed by Bitwise, VanEck, Invesco, and Franklin Templeton.Experts interpret this trend as a short-term flight from corporate risk exposure.
Zeus Research analyst Dominic John stated that institutional investors are taking profits and reducing their positions due to growing macroeconomic uncertainty.Over the weekend, Bitcoin’s price once again fell below $77,000 as escalating tensions between the United States and Iran, along with rising oil prices, intensified inflation concerns across the market.At the same time, rising US bond yields made risk-free returns more attractive to investors.
Analysts say Bitcoin is currently consolidating within a critical support zone between $76,000 and $77,000.The growing market capitalization of stablecoins such as USDT and USDC suggests that sidelined liquidity could be redirected into buying activity in the event of a correction.According to experts, although short-term volatility remains, the market’s medium-term bullish outlook remains unchanged.
See also: "Bitcoin Holds Near $77K After Four Consecutive Days of Declines"
