Massive Outflows of $200M in US Bitcoin Spot ETFs with Zero Inflows
On June 11, according to SpotOnChain, a leading on-chain analytics provider, Bitcoin ETFs in the United States saw outflows totaling $200 million. The platform revealed this information on X’s official account.
$BTC
#ETF
Net Inflow June 11, 2024: -$200M!
• No US Bitcoin ETFs experienced inflows yesterday ⚠️.
•
#Grayscale
(GBTC) increased its single-day outflow from $39.5M to $121M (3x).
•
#BlackRock
(IBIT) experienced a net flow of $0.
• Overall, the net inflow has been…
pic.twitter.com/RlmtGrPGYG
— Spot On Chain (@spotonchain)
June 12, 2024
The reports indicate that June 11 marked the second consecutive day of ETF outflows. SpotOnChain also detailed the individual exchange-traded funds in its recent post. Notably, the Grayscale ETF witnessed a significant surge in outflows, with a threefold increase in single-day outflows.
The GBTC ETF saw a substantial outflow of $121 million, a significant jump from its previous outflow of $39.5 million, making it the top ETF in terms of outflows. Meanwhile, BlackRock’s IBIT ETF maintained a neutral position with no inflows or outflows.
Total Asset Value of Bitcoin Spot ETFs Drops Below $60 Billion
Conversely, the Fidelity BTC ETF also experienced outflows, with FBTC witnessing outflows of $7.4 million. SpotOnChain’s data also included details on the Bitwise Bitcoin ETF, reporting outflows of nearly $11.7 million for the BITB ETF. The cumulative asset value of BTC spot ETFs has now fallen below the $60 billion mark, currently standing at $59.227 billion.
Tags:
BTC
ETF
