Bitcoin and Gold ETFs See $733.4M Outflows on May 27 as Debasement Trade Cools Amid Iran-US Deal Hopes

BTC-0.84%
According to JPMorgan analysts led by managing director Nikolaos Panigirtzoglou, bitcoin and gold exchange-traded funds saw significant outflows over the past two weeks as the debasement trade cools in anticipation of a potential Iran-U.S. deal. On May 27, U.S. spot bitcoin ETFs recorded net outflows of $733.4 million, marking their largest daily outflows since January 29, with BlackRock's IBIT bitcoin ETF alone seeing an outflow of $527.8 million—its second-largest daily outflow since launch. Bitcoin is currently trading around $72,750, down nearly 3% over the past 24 hours, according to SoSoValue data.
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