Bitcoin ETFs See $65M Net Outflows on Monday, Breaking 19-Day Record Streak
A 19-day streak of net inflows in U.S.-listed spot bitcoin exchange-traded funds (ETFs) ended with a combined $65 million in net outflows. Grayscale’s GBTC led the outflows with $40 million, continuing its trend as the worst-performing ETF by outflows since its launch in January. Invesco and Galaxy Digital’s BITCO saw net outflows of $20 million, Valkyrie's BRRR ETF had net outflows of $16 million, and Fidelity's FBTC saw $3 million in net outflows. This comes amid a market-wide slide in the cryptocurrency market and losses in broader stock markets. Traders anticipate a volatile week ahead due to a U.S. CPI reading and U.S. treasury secretary Janet Yellen’s upcoming speech. The Federal Open Market Committee (FOMC) is also set to decide on the Fed’s monetary policy, which may add to market uncertainty. Bitcoin's value has decreased by 2.7% in the past 24 hours.
