U.S. spot bitcoin ETFs recorded $174.45 million in net outflows on Monday, marking the sixth consecutive day of declines. Grayscale's GBTC led with $90 million in outflows, followed by Fidelity's FBTC at $35 million and Franklin Templeton's EZBC at $20.8 million.
Bitcoin faces a significant downturn as $630 million exits, causing its price to drop. Mass investor exodus impacts other cryptocurrencies and Bitcoin ETFs, indicating a loss of faith. Despite bearish sentiment, declining short positions and altcoin gains hint at potential positive shifts.
Bloomberg analyst Eric Balchunas predicts a July 2 launch date for U.S. spot Ethereum ETFs, with major asset managers like BlackRock, VanEck, and Fidelity submitting amended S-1 filings. Analysts have mixed views on potential demand.