U.S. spot bitcoin exchange-traded funds (ETFs) experienced their fifth consecutive day of outflows on Thursday, losing $139.88 million. Grayscale’s Bitcoin Trust (GBTC) led the decline with a $53 million reduction, followed closely by Fidelity’s (FBTC) $51 million loss.
Fifth Day of Outflows Hits US Bitcoin ETFs With $139 Million in Losses
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U.S. Bitcoin ETFs Experience Sustained Outflows
The 11 spot bitcoin ETFs reported $1.16 billion in trade volume on June 20, with Blackrock’s IBIT fund accounting for the bulk of the volume at $555.42 million. However, IBIT absorbed only $1 million on Thursday, insufficient to counter the significant outflows of the day. GBTC decreased by $53 million, bringing its reserves below the 280,000 range to 279,330.47 BTC.
Fidelity’s ETF FBTC followed Grayscale with $51 million in outflows on Thursday, reducing its BTC reserves to 168,074.94, down from the 170,000 range. Bitwise’s BITB shed $32 million, Invesco’s and Galaxy’s BTCO lost $2 million, and Vaneck’s HODL saw a $4 million decline. Meanwhile, BRRR, DEFI, BTCW, EZBC, and ARKB experienced neutral sessions with no net flows.
Since Jan. 11, 2024, the 11 ETFs have accumulated net inflows totaling $14.67 billion. Currently, these funds collectively hold $56.41 billion in BTC reserves. The recent trend of outflows from spot bitcoin ETFs highlights the ongoing volatility within the cryptocurrency market. Despite the withdrawals, the overall trade volume remains substantial, indicating continued investor interest.
What do you think about the latest spot bitcoin ETF market action? Share your thoughts and opinions about this subject in the comments section below.
