Bitcoin ETFs Post Worst Six-Month Performance Since Launch

US-listed Bitcoin ETFs have seen their first negative half-year since launching in January 2024. The six-month period ending in June of this year has been marked by net outflows totaling $5.4 billion, with a particularly severe month of June that saw $4.5 billion exit the market.

The broad selling pressure across major products like BlackRock's IBIT, Grayscale's GBTC, and Fidelity's FBTC contributed to this outflow trend, which coincided with Bitcoin prices trading between $60,000 and $65,000.

Institutional investors shifted their focus to AI-related tech stocks during this time. Although there was a brief inflow of $273 million in mid-July, outflows resumed shortly after, indicating ongoing investor caution toward Bitcoin ETFs.