Spot Bitcoin (BTC) exchange-traded fund (ETF) outflows continued as the week started. Consequently, the total net inflows of the investment products in the U.S. dropped below the billion mark.
According to data provided by Farside Investors, spot Bitcoin ETFs recorded a net outflow of 5.9 million on Jun. 17. Most of the outflows came from the Fidelity Wise Origin Bitcoin Fund (FBTC) and ARK 21Shares Bitcoin ETF (ARKB), worth million and million, respectively.
Moreover, the VanEck Bitcoin Trust (HODL) and Grayscale Bitcoin Trust (GBTC) also had smaller shares of .8 million and million in outflows, respectively.
Despite the bearish market sentiment and continuous outflows, the Bitwise Bitcoin ETF (BITB) still recorded .9 million in inflows on Jun. 17, data from Farside Investors shows. The remaining ETFs stayed neutral.
It’s important to note that the spot Bitcoin ETFs recorded 0.6 million in net outflows last week alone. The massive outflows came after four weeks of consecutive net inflows in the investment products, amounting to a total of roughly billion.
The latest series of outflows have brought the total amount of net inflows in spot BTC ETFs to .96 billion, according to data from Farside Investors.
The outflows come as the broader crypto market is witnessing increased FUD (fear, doubt and uncertainty) with the BTC price falling below the ,000 mark. Per the report, the global cryptocurrency market capitalization plunged by 2.6% over the past day and is sitting at .485 trillion.
Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
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