Bitcoin ETFs See $1.26 Billion Outflow: Institutional Demand Weakens
— Koin Bülteni
$1.26 billion outflow from Bitcoin ETFs indicates a weakening of institutional demand.
Bitcoin ETFs experienced their worst weekly performance since January, with $1.26 billion in outflows.
- U.S.-based spot Bitcoin ETFs recorded a net outflow of $1.26 billion last week, marking their worst weekly performance since January.
- Macroeconomic factors, particularly rising Treasury yields and a strengthening dollar index, triggered the ETF outflows.
- Despite having $61.1 billion in assets, BlackRock's IBIT fund saw inflows fall short, while Fidelity displayed a more resilient stance.
ETF outflows could create price pressure on Bitcoin by weakening the institutional demand channel.