Source: Zhitong Finance
Ten spot Bitcoin exchange-traded funds (ETFs) in the US have seen their biggest three-day outflow since their launch in January.
Ten spot Bitcoin exchange-traded funds (ETFs) in the US have seen their biggest three-day outflow since their launch in January. From Monday to Wednesday, there was a net outflow of $742 million from these ETFs. Among them, Grayscale Bitcoin Trust experienced capital outflows, and product subscriptions from BlackRock and Fidelity slowed.
Investors' interest in US spot Bitcoin ETFs is cooling
According to data compiled by Bloomberg, to date, these funds have received a net inflow of $11.4 billion, and are still one of the ETF categories with the best listing performance.
On Wednesday, the US Bitcoin price rose more than 5% as the Federal Reserve hinted that it would cut interest rates. Bitcoin's rally ended in failure in Asia on Thursday as ETF capital flow data penetrated the market, in stark contrast to the further rise in global stock markets and gold.
Chris Weston, head of research at Pepperstone Group, said that after the Federal Reserve announced the interest rate decision, cryptocurrencies have regained some momentum, but more work is needed to drive the rise.
As of press release, Bitcoin is trading at $67,300, which is about $6,500 below the historical peak set on March 14. At that time, people were increasingly bullish on spot ETFs, and the supply growth of this token was about to slow.