Bitcoin ETFs Experience Outflows as Investors Await Economic Data and Fed Meeting

• 11 U.S. spot bitcoin ETFs had $64.93M outflow, ending 19-day inflow streak.
• Grayscale's GBTC led outflows with $40M, followed by Invesco and Galaxy Digital.
• Valkyrie's bitcoin ETF saw $16M outflows, Fidelity's FBTC had $3M outflows.
• BlackRock's IBIT had $6M inflows, Bitwise's BITB had $8M inflows.
• 19-day inflow streak totaled $4B, 11 ETFs had $15.62B net inflows since January.
• Markets await U.S. CPI release, Fed meeting; ETF issuers await SEC feedback on spot ether funds.

Summary :
The 11 U.S. spot bitcoin exchange-traded funds experienced a net outflow of $64.93 million on Monday, ending their 19-day streak of inflows. Grayscale's GBTC had the highest outflows at $40 million, followed by Invesco, Galaxy Digital's BTCO, and Valkyrie's bitcoin ETF. Fidelity's FBTC also saw outflows of $3 million. However, BlackRock's IBIT recorded net inflows of $6 million, and Bitwise's BITB had $8 million of inflows. The 19-day inflow streak that ended accumulated over $4 billion in net inflows. Since their inception, the 11 spot bitcoin ETFs have seen a total net inflow of $15.62 billion. The dip in bitcoin's price last Friday was attributed to conflicting U.S. non-farm payroll and unemployment data, causing uncertainty among investors. The market is now anticipating the release of the U.S. Consumer Price Index and the Federal Open Market Committee meeting later this week. While the CME Group predicts the Fed will maintain the current interest rate, a Reuters poll suggests the Fed may cut rates twice this year. U.S. ETF issuers are still awaiting feedback from the SEC on their spot ether fund registration statements. Once launched, spot ether ETFs could capture up to 20% of the current flows directed towards spot bitcoin ETFs.

Sources :

- TheBlock