"U.S. spot Bitcoin (BTC) ETFs turn to net outflows…a sign of weak institutional demand"
JH Kim
Summary
- It reported that an analysis said U.S. spot Bitcoin (BTC) exchange-traded funds (ETFs) are showing a pattern of fund outflows.
- Glassnode said the 7-day simple moving average of ETF fund flows has turned negative, with net outflows of about 200–500 BTC occurring per day.
- It reported that this was assessed as a sign of weak institutional investor demand and slowing institutional inflows even as Bitcoin prices hold at a certain level.
Forecast Trend Report by Period
An analysis suggests U.S. spot Bitcoin (BTC) exchange-traded funds (ETFs) are seeing a pattern of fund outflows.
According to Glassnode on the 31st (local time), the 7-day simple moving average of ETF fund flows turned negative from early last week, with net outflows of roughly 200–500 BTC per day.
Glassnode said, "The absolute size of outflows is not large, but a persistent trend is being observed," adding that it is "a signal that institutional investor demand remains weak at current price levels."
The move indicates that institutional inflows are slowing even as Bitcoin prices hold around a certain level.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
