Yahya 
After five straight days of inflows, the 11 U.S. spot bitcoin exchange-traded funds (ETFs) saw total daily net withdrawals of $13.62 million on Tuesday, reversing flows.
ETF Performance and Market Dynamics
SosoValue data shows that Grayscale’s GBTC saw net withdrawals of $32.38 million and then Bitwise’s BITB lost $6.76 million. BlackRock’s IBIT saw $14.12 million in inflows, while Fidelity’s FBTC noted $5.42 million. The bitcoin fund of VanEck received $3.51 million in inflows; on Tuesday, ARKB from Ark Invest and 21Shares recorded net inflows of $2.48 million.
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Though these inflows, the 11 bitcoin funds had less than $1 billion in trading activity on Tuesday, far less than the daily volume of eight to ten billion dollars seen during the height of March trading. The ETFs have gathered a net inflow of $14.64 billion overall since their January launch.
The Bitcoin’s price shows that the value of bitcoin declined 2.86% over the previous 24 hours to $61,067 at the time of publishing. This price drop happened in spite of a Standard Chartered analysis showing that the top cryptocurrency would hit its all-time high in August and then rise to $100,000 in conjunction with the U.S. presidential election in November.
Standard Chartered further projected that bitcoin prices may drop much more to the region of $50,000 to $55,000 in a “least likely” situation wherein the current U.S. President Joe Biden withdraws from the election run.
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