BTC Spot ETF Outflow Reaches $20.5 Million on July 3rd

IconCryptoNewsTerminal Staff03 Jul, 2024

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BTC Spot ETF Outflow Reaches $20.5 Million on July 3rd

Bitcoin Spot ETFs have been facing a significant outflow of funds, with a total of $20.5 million being withdrawn on July 3rd, according to data from financial information platform Farside Investors. The outflows were primarily driven by Grayscale's GBTC, which saw a net outflow of $27 million. However, Fidelity's FBTC recorded a net inflow of $6.5 million. The reasons behind the outflows are still unclear, and further analysis is needed to understand the market sentiment.