%{{tag.tag}} {{articledata.title}} {{moment(articledata.cdate)}} @{{articledata.company.replace(" ","")}} comment After months of steady inflows, the new crop of spot %Bitcoin (CRYPTO: $BTC ) exchange-traded funds (ETFs) are experiencing their first outflows of capital as investors hit the “sell” button. Spot Bitcoin ETFs that were approved by U.S. market regulators at the end of January this year are seeing outflows as cryptocurrency prices drop amid market fears of stagflation, which is when inflation rises despite economic growth slowing down. The Fidelity Wise Origin Bitcoin Fund (TSX: $FBTC ), the third biggest Bitcoin ETF in America with $9.9 billion U.S. in assets under management, saw investors pull $23 million U.S. from the fund on April 25, its first ever outflow. Investors also pulled $31 million U.S. from the $2.8 billion U.S. ARK 21Shares Bitcoin ETF (ARKB) and sold $13 million of holdings in the $2.2 billion U.S. Bitwise Bitcoin ETF (BITB). One spot Bitcoin ETF that has yet to suffer any outflows is the second largest, the $17.7 billion U.S. iShares Bitcoin Trust (NASDAQ: $IBIT ). While notable, the outflows in spot Bitcoin ETFs aren’t cause for alarm. All ETFs experience some capital outflows on occasion. However, the outflows in the Bitcoin ETFs come as the price of %Bitcoin (CRYPTO: $BTC ) is down 2% over the last 24 hours and trading at $$62,400 U.S., while the price of %Ethereum (CRYPTO: $ETH ) has fallen 5% to trade at $3,160 U.S. In recent days, economic data showed that U.S. gross domestic product (GDP) grew at an annualized rate of 1.6% in the year’s first quarter following the preceding quarter's 3.4% growth. At the same time, the personal consumption expenditures (PCE) price index rose to a greater-than-expected 3.4% annualized rate in Q1, up from 1.8% in the fourth quarter of 2023. The data shows that the U.S. economy is slowing down even as inflation continues to rise, the definition of stagflation. Media reports also claim that mainland Chinese investors won't be able to trade the new crop of crypto exchange-traded funds (ETFs) that have been approved in Hong Kong, further pressuring crypto prices.