American spot Bitcoin ETFs see $527M outflows, marking 8th straight week of withdrawals
American spot Bitcoin ETFs experienced $527 million in net outflows over four trading sessions ending July 2, extending their unprecedented streak to eight consecutive weeks of withdrawals. Despite a single-day inflow of $221.7 million on July 2, the overall weekly trend remained negative, driven largely by BlackRock’s IBIT fund, which has seen 11 straight days of outflows totaling about $2.2 billion. Ethereum ETFs also faced weekly outflows but showed gains in the last two days. Bitcoin’s price recovered from a 21-month low to around $63,150, influenced by weaker U.S. employment data reducing the chance of Fed rate hikes. The ongoing outflows highlight investor caution amid market volatility and regulatory challenges.
American spot Bitcoin ETFs experienced $527 million in net outflows over four trading sessions ending July 2, extending their unprecedented streak to eight consecutive weeks of withdrawals. Despite a single-day inflow of $221.7 million on July 2, the overall weekly trend remained negative, driven largely by BlackRock’s IBIT fund, which has seen 11 straight days of outflows totaling about $2.2 billion. Ethereum ETFs also faced weekly outflows but showed gains in the last two days. Bitcoin’s price recovered from a 21-month low to around $63,150, influenced by weaker U.S. employment data reducing the chance of Fed rate hikes. The ongoing outflows highlight investor caution amid market volatility and regulatory challenges.
What's Your Reaction?
:max_bytes(150000):strip_icc()/GettyImages-2187410260-5afe56694791404f99c253dd8d5abe6a.jpg?#)
