U.S. Bitcoin ETFs See First Outflows in 3 Weeks as Market Jitters Rise

Investors in U.S.-listed spot Bitcoin ETFs pulled out a combined $65 million on Monday, ending a record 19-day streak of inflows, according to data. This shift comes amidst a broader market downturn and key economic events on the horizon.
Grayscale’s GBTC led the outflows with $40 million, continuing its trend as the worst performer since its January launch. Other notable outflows included Invesco/Galaxy’s BITCO ($20 million) and Valkyrie’s BRRR ($16 million). Even Fidelity’s FBTC, which had seen inflows since early May, experienced a small outflow of $3 million.
This reversal coincides with a decline in the cryptocurrency market and broader stock markets. Experts warn of a potentially volatile week ahead, with investors keeping a close eye on the U.S. CPI data being released Wednesday and Treasury Secretary Yellen’s speech on Friday. Both events could impact riskier assets like Bitcoin.
Adding to the uncertainty is the Federal Open Market Committee (FOMC) meeting starting today, where the Fed’s monetary policy decisions will be announced. Bitcoin itself has dipped 2.7% in the past day, erasing gains from last week when it briefly surpassed a two-month high of $70,000.