Bitcoin ETFs See $200M Net Outflows in Fed, CPI Jitters
U.S.-listed spot bitcoin exchange-traded funds (ETFs) experienced a second consecutive day of outflows, with $200 million in net outflows recorded on Tuesday. This is the highest since May 1, when the outflows reached $580 million. Grayscale’s GBTC accounted for most of the outflows, with a total of $120 million. Other ETFs such as Ark Invest’s ARKB, Bitwise’s BITB, Fidelity’s FBTC, and VanEck’s HODL also recorded outflows ranging from $56 million to $7 million. Traders attributed these outflows to derisking actions ahead of the Consumer Price Index (CPI) reading and the two-day Federal Open Market Committee (FOMC) meeting. Despite these short-term headwinds, Singapore-based QCP Capital maintains a long-term bullish view on cryptocurrencies.
