Spot Bitcoin Exchange Traded Funds (ETFs) in the United States concluded a deeply bearish trading period, registering a cumulative net outflow of $1.72 billion over a continuous five-day streak. This substantial withdrawal period, stretching from the start of the previous trading week, marks one of the most severe sustained sell-offs since the funds’ inception in January.
The massive redemption volume underscores a broad-based shift in investor sentiment away from risk assets, coinciding directly with Bitcoin’s sharp price correction. During the same period, the leading cryptocurrency saw its value fall significantly, breaking critical support levels and trading down toward the $60,000 mark.
While Grayscale’s Bitcoin Trust (GBTC) typically accounts for the majority of outflow pressure, recent data shows that even funds which usually record robust inflows, such as BlackRock’s IBIT and Fidelity’s FBTC, experienced either zero net flow days or slight negative pressure, confirming the market-wide bearish pivot.
Analysts attribute the cascade of outflows primarily to lingering macroeconomic uncertainty, particularly sticky inflation figures which have dampened expectations for swift interest rate cuts by the Federal Reserve. This ‘higher-for-longer’ interest rate outlook makes non-yielding assets like Bitcoin less appealing compared to safer, interest-bearing alternatives.
Despite the significant $1.72 billion depletion, the total assets under management (AUM) within the US spot Bitcoin ETF sector remains robust, holding above $50 billion. Market watchers anticipate that stability will return once Bitcoin finds firm technical support, though investors remain cautious, monitoring institutional buying activity to determine if the selling pressure has fully capitulated.
Source: US Bitcoin ETFs bleed $1.72B in five-day outflow streak
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