Net outflow was recorded due to the BTC price decline that began on the 25th.
On the 25th, the outflow of 10 BTC spot ETFs was 165.8 billion won.
According to data compiled by financial data platform Farside Investor on the 27th, the Bitcoin spot ETF in the United States recorded a net outflow of about $328 million last week, led by the extreme outflow of Grayscale's GBTC.
The main cause of the Bitcoin spot ETF net outflow record in the United States is the extreme Bitcoin price change that began on the 25th. On the 25th of last week, Bitcoin began to decline due to the 'Mount Goxbal bad news'.
It was revealed that Mt. Gox, which had promised to compensate creditors by October of this year, had recently begun the process of repaying digital assets (cryptocurrency) to creditors in earnest, and fears that a massive sell-off could occur have encroached on the market. Additionally, when the U.S. Department of Commerce announced a slowdown in U.S. GDP growth in the first quarter, Bitcoin continued to fall.
Due to the decline in the price of Bitcoin, withdrawals from 10 Bitcoin spot ETFs in the United States, excluding GBTC, on the 25th, amounted to approximately $120 million (approximately KRW 165.8 billion).
BlackRock's IBIT, which led the rise of the Bitcoin spot ETF in the U.S. due to extreme price changes in Bitcoin last week, also failed to show much strength. IBIT's net inflow on the 25th recorded '0 (zero)'.
Reporter Seungwon Kwon ksw@
