US spot Bitcoin ETFs face $231M outflow amid June's $4B withdrawal trend
US spot Bitcoin ETFs experienced $231 million in outflows on June 29, marking the eighth consecutive day of withdrawals and contributing to June's total approaching $4 billion. Ethereum ETFs also saw $30 million in outflows the same day. The ongoing sell-off is driven by rising interest rates, which make safer assets like Treasury bonds more attractive compared to volatile cryptocurrencies. Investors are closely watching whether this trend reverses, especially in BlackRock's dominant Bitcoin fund, as any changes in Federal Reserve rate policies could quickly impact crypto ETF flows.
US spot Bitcoin ETFs experienced $231 million in outflows on June 29, marking the eighth consecutive day of withdrawals and contributing to June's total approaching $4 billion. Ethereum ETFs also saw $30 million in outflows the same day. The ongoing sell-off is driven by rising interest rates, which make safer assets like Treasury bonds more attractive compared to volatile cryptocurrencies. Investors are closely watching whether this trend reverses, especially in BlackRock's dominant Bitcoin fund, as any changes in Federal Reserve rate policies could quickly impact crypto ETF flows.
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