The ten spot Bitcoin ETFs experienced net outflows of $55.1 million and $36.7 million between April 12 and 15. This was in contrast to Grayscale’s offering, which saw inflows during the same period. The week was volatile for Bitcoin, with its value dropping by 10% to around $63,498.
One expert predicted that the ETFs would be lucky to get $500 million in inflows, citing reasons such as the modest size of the local ETF market, lack of well-known issuers, relatively low liquidity, and expensive fees. The expert also mentioned that selling pressure from miners may last for four to six months, potentially causing Bitcoin’s price to fluctuate sideways, as seen in previous halving cycles.
