ETFs
US Bitcoin Spot ETFs End 19-Day Inflow Streak Ahead of CPI Report and FOMC Meeting
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Spot Bitcoin exchange-traded funds (ETFs) in the United States saw their first outflows after a 19-day streak of inflows, according to data of HODL15Capital.
On Monday, ETFs saw outflows of around $65 million, with Grayscale Bitcoin Trust (GBTC) reporting nearly $40 million in withdrawals.
The Fidelity Wise Origin Bitcoin Fund (FBTC) faced outflows of $3 million. The Invesco Galaxy Bitcoin ETF (BTCO) saw a substantial $20.5 million leave its fund. Valkyrie Bitcoin Fund (BRRR) reported outflows of nearly $16 million.
In contrast, the Bitwise Bitcoin ETF (BITB) saw nearly $8 million in net inflows, while BlackRock’s iShares Bitcoin Trust (IBIT) saw around $6 million in net inflows.
Other funds, including ARK 21Shares Bitcoin ETF (ARKB), Franklin Templeton Bitcoin ETF (EZBC), VanEck Bitcoin Trust (HODL), and WisdomTree Physical Bitcoin (BTCW), have not reported any inflow or outflow activity. during the day’s trading session.
American Bitcoin funds have been active buyersaccumulating around 25,700 BTC in the first week of June alone. I BITE remains the largest Bitcoin ETF in the world, with over 304,000 BTC under management, while GBTC ranks second with over 284,000 BTC, valued at $19.7 billion.
US economic sentiment and anticipation of Federal Reserve (Fed) monetary policy may have influenced Monday’s ETF flows.
All eyes are on the Consumer Price Index (CPI) report and the Federal Open Market Committee (FOMC) meeting, both scheduled for Wednesday, June 12. CPI inflation is estimated at 3.4% and core CPI at 3.5%.
Investors are also closely watching the Fed’s interest rate decision. THE CME FedWatch Tool indicates that the market strongly expects the Fed to keep rates between 525 and 550 basis points.
Upcoming economic events could also impact Bitcoin price dynamics. As reported According to Crypto Briefing, Bitcoin perpetual futures markets have seen high funding rates, indicating a premium for long positions and a potential correction in spot prices following the FOMC meeting.
According to CoinGecko dataBitcoin is trading at around $68,300 at press time, down almost 2% in the past 24 hours.
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