Ethereum

Bitcoin ETF

Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-etf-funds-experience-significant-outflows/" data-wpel-link="internal">Bitcoin ETF Funds Experience Significant Outflows</a><br></p>
<p class="p1" style="text-align: justify"><strong>In the US,</strong> 11 spot bitcoin investment funds saw a daily net outflow of $64.93 million on June 10, ending the longest inflow streak of 19 days. Grayscale’s GBTC led with a total outflow of $40 million this week. According to SosoValue <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a>, Invesco and Galaxy Digital’s BTCO saw a net outflow of $20 million, with other funds also experiencing investor redemptions on Monday.</p> 
<h2 class="p1" style="text-align: justify" id="what-s-happening-on-the-etf-front">What’s Happening on the ETF Front?</h2> 
<p class="p1" style="text-align: justify"><strong>Valkyrie’s</strong> Bitcoin ETF fund reported a net outflow of $16 million. Fidelity’s FBTC fund saw a net outflow of $3 million, marking its first negative flow since May 2. BlackRock’s IBIT fund, the largest spot Bitcoin ETF by net assets, recorded a net inflow of $6 million, while Bitwise’s BITB fund saw an inflow of $8 million.</p> 
<p class="p1" style="text-align: justify">The record-breaking 19-day inflow streak, which ended on May 7, accumulated over $4 billion in net inflows. Since their inception in January, the 11 spot Bitcoin ETF funds have recorded a total net inflow of $15.62 billion.</p> 
<p class="p1" style="text-align: justify">According to crypto trading firm QCP Capital, Bitcoin’s price fell on May 7 after US non-farm payroll and unemployment data presented conflicting views on the US economy, leading investors to shy away from riskier assets due to uncertainty.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-361124 size-full" src="https://coin-turk.com/wp-content/uploads/2024/06/flow.jpg" alt="" width="1200" height="1023"></p> 
<h2 class="p1" style="text-align: justify" id="developments-in-the-process">Developments in the Process</h2> 
<p class="p1" style="text-align: justify">Markets are awaiting the release of the US Consumer Price Index (CPI), a key measure of inflation, as well as the Federal Open Market Committee meeting expected at the end of this week. CME Group predicts a 99.4% chance that the Fed will maintain the current <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">interest rates</a> between 5.25% and 5.50%, while a Reuters poll of economists suggests the Fed could cut rates twice starting in September this year.</p> 
<p class="p1" style="text-align: justify">Meanwhile, US ETF issuers are still awaiting feedback from the Securities and Exchange Commission regarding the S-1 registration statements they submitted late last month. Issuers need SEC-approved S-1 forms to officially launch spot <a href="https://en.coin-turk.com/ethereum-prepares-for-another-update-with-key-initiatives/" data-wpel-link="internal">Ethereum</a> funds.</p> 
<ul class="Summary"> 
 <li>11 spot bitcoin funds saw a net outflow of $64.93 million on June 10.</li> 
 <li>Grayscale’s GBTC led with a $40 million outflow this week.</li> 
 <li>Markets await US CPI release and Federal Open Market Committee meeting.</li> 
</ul> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoin-etf-funds-experience-significant-outflows/" data-wpel-link="internal">Bitcoin ETF Funds Experience Significant Outflows</a></h5>

Bitcoin ETF Funds Experience Significant Outflows

Table of Contents

COINTURK NEWS

Other articles published on Jun 11, 2024

Introduction to SimbaWifHat (SWH): A Rising Star in the Meme Token Galaxy

Donald Trump Declares Support For Bitcoin and Ethereum, Why This DeFi Platform Stands To Benefit

HSBC China e-CNY Integration Spearheads e-CNY Adoption Among Corporate Clients

Why Bitcoin’s Soaring Open Interest Is a Big Deal for Crypto

MoonBag Presale Staking: Your Ticket to Securing 88% APY in the Meme Coin Market Against Theta an...

U.S. senators urge Federal Reserve to cut interest rates

Join our free newsletter for daily crypto updates!