
Bitcoin Etfs See More Than $800 Million Of Outflows In April
The outflows in April come after about a dozen U.S.-listed spot Bitcoin ETFs saw a record $3.56 billion U.S. in outflows during February and $767 million U.S. in March of this year.
The outflows from Bitcoin ETFs have largely been due to selling by institutional investors that have been shifting capital into the bond market.
Three-month Treasury bills auctioned on April 14 drew strong demand from institutional investors, according to data from CME.
The strong flows into bonds show that institutions still view the U.S. debt market as a safe haven during times of volatility, say analysts.
U.S. President Donald Trump's shifting tariff policies and trade war with China has increased the level of uncertainty in the stock market to the point where many investors are shunning risk assets such as cryptocurrencies.
At the same time, U.S. recession odds have increased above 50% on major betting platforms, with elevated Japanese bond yields further complicating matters for risk assets.
In the current environment, many institutional investors are seeking to protect capital by placing it in safe havens such as bonds and gold, which is trading near an all-time high.
Bitcoin’s price is currently at $85,500 U.S., having fallen nearly 10% this year.
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