Bitcoin (BTC) Experiences Record $284 Million Outflows Amidst Crypto Market Volatility

• The recent unimpressive price action of Bitcoin is playing out in the minds of institutional investors, with recent data highlighting their bearish sentiment. This has led to a wave of massive outflows from Bitcoin investment products, which could negatively impact the flagship crypto.
• Bitcoin investment funds recorded an outflow of $284 million last week, with most of these outflows coming from the US Spot Bitcoin ETFs.
• Despite the outflows, Spot Bitcoin and Ethereum ETFs in Hong Kong recorded $307 million in inflows in the first week of trading.

Recent data shows a bearish sentiment among institutional investors towards Bitcoin, leading to massive outflows from Bitcoin investment products. This article delves into the details and potential impacts of this development.

Bitcoin Investment Products Record $284 Million Of Outflows

CoinShares revealed in a blog post that Bitcoin investment funds recorded an outflow of $284 million last week. Most of these outflows are said to have come from the US Spot Bitcoin ETFs, which saw outflows of $156 million last week. CoinShares noted that last week was the first time these funds recorded such a measurable amount of outflows. These US Spot Bitcoin ETFs indeed had a week to forget last week, as even BlackRock’s iShares Bitcoin Trust (IBIT) recorded its first day of outflows since launch, with almost $37 million exiting the fund.

Institutional Investors’ Mixed Feelings