Bitcoin ETFs end inflow streak as Fed rate concerns mount

US-listed Bitcoin ETFs ended their seven-session winning streak after outflows exceeding $465 million on July 23 and 24.

Ivan Lim, senior derivatives trader at FalconX, attributed the continued uncertainty to macroeconomic factors, according to Bloomberg.

He asserted that the outflows and declining investor confidence stemmed from market anticipation of greater regulatory clarity in the US and expectations of interest rate hikes.

Despite heavy withdrawals late last week, spearheaded by cash outflows from a BlackRock fund, Bitcoin funds still managed to attract $33.8 million during the week.

This marked the third consecutive week of inflows, following eight weeks in which investors withdrew $8.3 billion from these funds.