America's Bitcoin ETF faces a capital outflow of 1.2 billion USD

Bitcoin spot ETF funds listed in America are experiencing a three-day consecutive capital outflow, with a total value of over 1 billion USD withdrawn. This trend reflects a change in the sentiment of institutional investors as the price of Bitcoin continues to fluctuate around the 105,000 USD level without any clear breakout signs.

According to data from SoSoValue, on June 2 alone, 12 Bitcoin spot ETF funds in America experienced a net withdrawal of 268 million USD. Previously, on May 29 and 30, the outflow was even larger, totaling over 1 billion USD.

Industry analysts believe that this outflow of capital is largely due to the general market being in a correction phase. The price of Bitcoin has maintained a narrow range over the past week, causing large investors to cautiously reduce risk or shift capital to other types of assets. This phenomenon often occurs during price accumulation phases, when short-term profit expectations are limited.

The iShares Bitcoin Trust (IBIT) of BlackRock, the largest Bitcoin ETF in America, is also not outside this trend. However, this does not significantly affect the position of IBIT among the top 25 largest ETF funds in the United States, as the fund currently manages assets worth over 72 billion USD.

BlackRock's IBIT Ranking | Source: X/BalchunasBloomberg's ETF analyst, Eric Balchunas, noted that IBIT has experienced rapid growth, despite only being operational for 1.4 years – the youngest fund in the top 25 funds, and has a significantly shorter lifespan compared to its competitors.

European retail investors gain expanded access to Bitcoin ETF

Despite the recent price movements of Bitcoin, institutional investors in other regions continue to maintain interest in this leading digital asset.

On June 3, Jacobi Asset Management expanded access to its Bitcoin ETF by removing long-standing investment restrictions. This change allows individual investors in Europe to directly buy into the product, after the Guernsey regulator decided to abolish the classification reserved for professional investors along with the minimum capital requirements.

Mr. Peter Lane, CEO of Jacobi, stated:

"Our fund was designed from the outset with a strict regulatory framework, meeting standards for institutional investors, creating trust and familiarity. Now, with the increasing regulatory consensus and widespread public interest, we are excited to expand access for all investors in eligible regions."

He also appreciated Guernsey's proactive approach and expressed optimism about the possibility of more strictly regulated cryptocurrency investment products being launched soon.

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