Bitcoin ETFs bleed on Trump-Musk fallout as sentiment turns to fear
While Bitcoin ETFs flipped to $278 million of outflows amid the Trump-Musk feud, Ether ETFs saw inflows, continuing a 14-day streak.
Bitcoin exchange-traded funds (ETFs) in the United States turned red amid worsening sentiment stemming from an ongoing feud between US President Donald Trump and billionaire Elon Musk.
After a brief recovery on June 3-4, US spot Bitcoin (BTC) ETFs were again hit with outflows on June 5, totaling $278 million, according to SoSoValue data.
The outflows came as the Cryptocurrency Fear & Greed Index flipped from “Greed” to “Fear” on June 6, likely in response to the rupture of the previously close relationship between Trump and Musk, which has played out in multiple explosive social media posts.