The Bitcoin ETFs Lose $544 Million In 6 Days!

Bitcoin ETFs are facing an unprecedented financial hemorrhage, recording massive net outflows over six consecutive days. With over $544 million withdrawn, this phenomenon reflects significant tensions in the crypto market, raising crucial questions about the future of these financial products and their stability. Investors and analysts are closely monitoring this worrying trend, seeking to understand its deep causes and future implications.

A Series of Massive Fund Outflows

The market is gloomy. For six consecutive days, Bitcoin ETFs have suffered massive net outflows totaling over $544 million. On June 21, the outflows reached $105.9 million, marking the sixth consecutive day of withdrawals exceeding $100 million.

The main contributors to this trend are the Fidelity Wise Origin Bitcoin Fund with $44.8 million, the Grayscale Bitcoin Trust with $34.2 million, and the ARK 21Shares Bitcoin ETF with $28.8 million. Conversely, the Franklin Bitcoin ETF recorded an inflow of $1.9 million, an exception in this context of widespread withdrawals.

This financial hemorrhage was also accompanied by an increase in sales by Bitcoin “whales.” These massive sales add further pressure to an already volatile market and increase concerns about the future stability of Bitcoin ETFs and the crypto market in general.

The Crypto Market Under Pressure

According to Ki Young Ju, CEO of CryptoQuant, these major crypto whales have sold around $1.2 billion of BTC over the past two weeks. Ju warns that if this sell-side liquidity is not absorbed, it could lead to an increase in BTC deposits on exchange platforms, significantly impacting the market. Indeed, the increase in deposits on platforms could accentuate the selling pressure, affecting prices and market stability.

The future of Bitcoin might seem uncertain in the face of this wave of withdrawals. But that is not so. Despite the decline in Bitcoin’s price, 87% of holders are in profit. That’s saying something!