Bitcoin ETFs in the USA: Record Outflows of $1.3 Billion in Two Weeks
Recently, data from Farside Investors indicates that there has been a significant outflow of funds from spot Bitcoin ETFs in the USA. The total outflow in the last two weeks has reached a staggering $1.3 billion.
- Grayscale Leads the Way: Grayscale’s GBTC has seen a drop of $517.3 million within the same period.
- Latest Data: According to Farside Investors, the provisional data for today shows a total outflow of $174.5 million, with Grayscale still leading with $90.4 million.
The outflows have been largely negative, except for one ETF that remains at zero. This trend may be indicative of the current market conditions and investor sentiment towards Bitcoin.
Continuous Outflows in Bitcoin ETFs as BTC Price Drops to $60,000
One of the main factors driving the outflows from spot Bitcoin ETFs in the USA is the recent decline in the price of Bitcoin.
- Bitcoin Price: BTC is currently valued at $60,699, reflecting a decrease of 7.6% in the past week and 12% over the last 30 days.
- Bearish Market: Despite ongoing support from enthusiasts, Bitcoin seems to be experiencing a bearish phase.
- Michael Saylor’s Prediction: Michael Saylor, the co-founder of MicroStrategy, has made bold predictions about Bitcoin’s future, suggesting that the price could reach $10 million.
- MicroStrategy’s Holdings: MicroStrategy holds a significant amount of BTC, totaling 214,400 coins.
- Japan’s Investment: In Japan, investment consulting company Metaplanet has announced plans to raise funds through bond offerings to acquire an additional $6 million worth of Bitcoin.
The Goldman Sachs Perspective
Goldman Sachs, a major player in the financial market, has shown interest in spot Bitcoin ETFs, with positive remarks regarding their success.
- Surprising Success: Goldman Sachs expressed astonishment at the approval and success of Bitcoin ETFs, acknowledging their psychological impact on the market.
- Shift in Perspective: The head of assets at Goldman Sachs, Mathew McDermott, noted a shift in the firm’s attitude towards Bitcoin ETFs, moving from skepticism to widespread acceptance.
Hot Take: Spot Bitcoin ETFs in the USA see $1.3 billion Outflows
The spot Bitcoin ETFs in the USA are recording outflows of $1.3 billion in the last two weeks. The reason could be attributed to the market decline, with the price of BTC dropping to the current $60,000.
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