ETF Net Outflow of $1.7 Billion... Institutional Investor Sentiment Weakened
According to SoSoValue data reported on the 8th, U.S. spot Bitcoin exchange-traded funds (ETFs) recorded a net outflow of $1.72 billion (2.618 trillion KRW) last week. The capital outflows that have continued since mid-May have persisted for four consecutive weeks, confirming a weakening of institutional investor sentiment.BlackRock's iShares Bitcoin Trust ETF (IBIT) recorded a net outflow of $1.34 billion during the same period, accounting for the majority of the total outflow. Fidelity's FBTC saw an outflow of $201.9 million, and Grayscale's GBTC saw an outflow of $144.3 million, respectively.
Matthew Pinnock, Chief Operating Officer of Altura DeFi, analyzed on the 8th that "the main cause of the capital outflow is the outlook for U.S. interest rates and changes in risk asset preferences, rather than issues with Bitcoin itself." He explained that strong U.S. employment figures and rising Treasury yields stimulated risk aversion among institutional funds.
Spot Ethereum ETFs also performed poorly. Ethereum ETFs recorded a net outflow of $173.05 million (263.4 billion KRW) during the same week, continuing a trend of capital outflows for four consecutive weeks. The cumulative net outflow over the past four weeks reached approximately $885.6 million (1.348 trillion KRW).
On the other hand, some altcoin ETFs showed differentiated trends. The Hyperliquid-based HYPE ETF recorded a net inflow of $16.65 million, while the XRP ETF and Solana ETF experienced only slight outflows.
Reporter Jeong Ha-yeon yomwork8824@blockstreet.co.kr
