BTC ETFs see $4.4B net outflow in one month, analyst notes gold ETF precedent

U.S. spot Bitcoin ETFs have seen approximately $4.4 billion in net outflows over the past month, causing their year-to-date cumulative net inflows to turn negative again, according to Bloomberg ETF analyst Eric Balchunas. In a post on X, Balchunas described the current situation as a "bad period" and a "major retreat" for the funds. He noted that while the hard-won positive year-to-date inflow figure has been erased, some products like the iShares Bitcoin Trust (IBIT) still maintain positive inflows for the year. Furthermore, the cumulative net inflow since launch remains at $55 billion, only about $10 billion down from its all-time high, which he deemed "not bad" considering the broader outflow trend and negative sentiment. Balchunas added that the gold ETF GLD once experienced a 40% withdrawal of its assets a few years after its launch, suggesting that the BTC ETF holder base is "much more solid" in comparison.