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On Tuesday, June 11, U.S. spot Bitcoin exchange-traded funds experienced net outflows of $200 million as the market awaits key economic indicators, including CPI and FOMC data.from Farside Investors, Grayscale’s GBTC had the largest amount of net outflows, totaling $121 million. Ark Invest’s ARKB was next in line, with $56.5 million. Other ETFs, such as Bitwise’s BITB, reported $11.7 million in outflows, while Fidelity and VanEck experienced smaller net outflows of $7.4 million and $3.
The recent outflows and the subsequent market reaction come at an important time, with investors awaiting key economic indicators from the U.S., including the Federal Open Market Committee meeting results and the Consumer Price Index data. The latest CPI report, expected on Wednesday, June 12, could influence the Federal Reserve’s interest rate path. According to a CNBC report, the CPI isThe Federal Reserve’s rate-setting meeting is unlikely to surprise the market, with a 99.4% probability that the Fed will maintain the current interest rate of 5.50%. However, a Reuters poll of economists suggests that the Fed may reduce rates twice this year, potentially starting in September.
SEC just added the ProShares’ Ethereum ETF Filing to its website. Instinct initially says this wont launch on day 1 with the other ETFs whenever that is but who knows. This is interesting.that the new filing has not yet been approved by the SEC but was merely acknowledged and added to their website. He also found it intriguing that ProShares is entering the ETH ETF race so late.Best AI Crypto Coins in 2024: Top 9 Projects to WatchOne Weekly Email Can Change Your Crypto Life.
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