Bitcoin ETFs hit with $278 outflows amid Trump-Musk feud
Bitcoin exchange-traded funds (ETFs) in the U.S. experienced significant outflows totaling $278 million amid negative sentiment linked to the feud between Donald Trump and Elon Musk. The Cryptocurrency Fear & Greed Index shifted from "Greed" to "Fear," reflecting investor anxiety. This sentiment affected not only Bitcoin but also led to a 14% drop in Tesla shares and an 8% decline in Trump Media shares. Prior to this, Bitcoin ETFs had already faced $1.2 billion in outflows from May 29 to June 2. In contrast, Ether ETFs continued to attract inflows, with $11.3 million on June 5, marking 14 consecutive days of inflows, despite a decrease from previous days. BlackRock purchased $50 million worth of Ether on June 3, indicating ongoing interest in Ether amid improving market conditions.
