Các quỹ ETF bitcoin và quỹ tín dụng tư nhân ghi nhận dòng tiền rút ra lớn, cho thấy rủi ro thị trường đang gia tăng

The Huoxing Finance report, citing CoinDesk, states that in just June, U.S. spot Bitcoin ETFs experienced net outflows of $4 billion, led by BlackRock’s IBIT, as capital shifted toward opportunities such as AI trading and SpaceX’s IPO. Bitcoin fell approximately 14% in the second quarter, dropping below $60,000 and marking its third consecutive quarterly loss. However, this outflow pales in comparison to the $2 trillion private credit market, where redemption requests in the second quarter reached $15.6 billion. Of 16 business development companies, 10 exceeded their 5% quarterly redemption cap, with most investors receiving only partial payments. Fitch expects redemption pressures to persist over the coming months, with unmet requests continuing to weigh heavily on multiple firms. Bitcoin ETFs are highly liquid, and outflows directly impact BTC prices; in contrast, private credit BDCs are illiquid, long-term instruments. The simultaneous redemptions in both reflect broad market concerns over liquidity and risk. The energy market has also signaled risk aversion, with U.S. Strategic Petroleum Reserves at their lowest level since 1983. QCP Capital summarized: “Different sectors, same pattern: market buffers are narrowing.” It noted that the depletion of strategic oil reserves, Strategy’s first-ever sale of BTC to pay dividends, and private credit redemptions exceeding thresholds collectively indicate a more challenging environment for risk assets.