Bitcoin ETFs See Sharp Outflows as Institutional Interest Wanes
Bitcoin ETF Demand Cools Off
CryptoQuant highlights a concerning trend for spot Bitcoin ETFs, with institutional investors potentially losing interest. Despite Bitcoin's recent price surge of 11.15% since April 9, ETF inflows have dropped sharply.
$713 Million Outflow in One Week
Bitcoin ETFs experienced a massive outflow of $713 million over the past week. BlackRock's IBIT fund alone lost $343 million, the largest among Bitcoin ETFs. Last Friday saw nearly $200 million in outflows, with Fidelity, Invesco Galaxy, and Grayscale losing 938 BTC, 578 BTC, and 419 BTC, respectively.
Economic Uncertainty Drives Concerns
The decline in ETF inflows may reflect growing investor concerns about economic instability. While Bitcoin's price has risen to $84,760, institutional sentiment appears to be shifting.
Data Limitations Noted
CryptoQuant's CEO, Ki Young Ju, noted that ETF data updates may lag due to weekend trading halts and delays in fund updates.
This trend raises questions about the sustained appeal of Bitcoin ETFs among institutional investors.
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