Bitcoin ETFs Witness Sharp Drop in Investments
Spot Bitcoin exchange-traded funds in the U.S. saw a notable decline in net inflows last week. According to SoSoValue,the 12 Bitcoin ETFs collected $196.48 million, down 73.6% from the previous week’s $744.35 million.
Initially, the week started strong with positive flows. Though, investor sentiment shifted, ending with a net outflow on Friday. BlackRock’s IBIT led with $172 million, followed by Fidelity’s FBTC with $86.8 million. vaneck’s HODL added $5 million. Yet, ARK 21Shares’ ARKB, Bitwise’s BITB, WisdomTree’s BTCW, and Invesco’s BTCO faced combined outflows of $67.4 million. This change halted a 10-day streak of inflows,totaling nearly $1.07 billion. Analysts noted a relatively modest demand, indicating cautious investor behavior.
Bitcoin’s quarterly performance is its worst as 2018. It’s down 11.86% at $81,939. The sell-off erased weekly gains as investors grew cautious. The drop was linked to President Trump’s tariffs and strong core PCE data, raising concerns about Federal Reserve rate cuts.
- BlackRock’s IBIT attracted $172 million.
- Fidelity’s FBTC gained $86.8 million.
- VanEck’s HODL saw $5 million in inflows.
Bitcoin’s price could dip below $80,000 if selling continues. The market uncertainty stems from tariffs and economic data.
For more insights,visit SoSoValue for detailed data.
