Bitcoin ETFs Witness 140 Million Outflow on June 20

Bitcoin ETFs experienced a negative net outflow of $140 million on June 20, 2024, marking the fifth consecutive day of declining inflows. However, BlackRock’s IBIT was the only ETF to see a small positive inflow of $1.5 million. On the other hand, Grayscale’s GBTC recorded the highest outflow of the day at $53 million. In fact, GBTC has suffered outflows totaling up to $232 million in the last five days alone. Fidelity’s FBTC also experienced a significant outflow of $413 million during this period. These figures indicate that investors are withdrawing more assets from Bitcoin ETFs than they are investing, suggesting a shift in investor sentiment towards Bitcoin investment management. The significant net outflows highlight investor wariness of Bitcoin ETFs, with many investors leaving popular ETFs like Grayscale and Fidelity. The only positive aspect for BlackRock is the modest inflow it received for its IBIT ETF during this challenging period. Overall, the trend reflects cautious investor attitudes towards Bitcoin ETFs, with significant net outflows observed in the past week.