Bitcoin ETF Outflows Reach $635 Million Amid Inflation Concerns
Published on · Source: finance.yahoo.com
AI Summary
Summarized by AI from the source belowOn May 13, U.S. spot Bitcoin ETFs experienced outflows totaling $635 million, the largest single-day outflow since January 29. BlackRock's IBIT led the decline with $284.69 million, contributing significantly to a five-day cumulative outflow of $1.26 billion across all funds. Key drivers for these outflows included April's CPI at 3.8% and PPI at 6%, the highest since December 2022, alongside Kevin Warsh's confirmation as Fed Chair. Consequently, market expectations shifted from rate cuts to approximately 39% odds of rate hikes, impacting investor sentiment negatively regarding Bitcoin ETFs (CRYPTO: BTC).
Informational only, not financial advice. Content is AI-generated and may contain errors. How this works.
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