Bitcoin ETF sees ongoing outflows total value drops below 15 billion
Bitcoin ETF outflows continued as the new week kicked off, causing a drop in total net inflows of U.S. investment products to fall below $15 billion.
Data from Farside Investors revealed that spot Bitcoin ETFs experienced a net outflow of $145.9 million on Jun. 17. Most of the outflows were from the Fidelity Wise Origin Bitcoin Fund (FBTC) and ARK 21Shares Bitcoin ETF (ARKB), totaling $92 million and $50 million, respectively.
Additionally, the VanEck Bitcoin Trust (HODL) and Grayscale Bitcoin Trust (GBTC) also saw smaller outflows of $3.8 million and $3 million, respectively.
Despite the bearish market sentiment and ongoing outflows, the Bitwise Bitcoin ETF (BITB) managed to record $2.9 million in inflows on Jun. 17, according to Farside Investors data. The rest of the ETFs remained neutral.
Spot Bitcoin ETFs witnessed $580.6 million in net outflows just last week. This significant outflow followed four weeks of consecutive net inflows, totaling around $4 billion.
The most recent outflows have brought the total net inflows in spot BTC ETFs to $14.96 billion, as reported by Farside Investors.
These outflows coincide with a rise in FUD within the broader crypto market, as the price of BTC dropped below $66,000. The global cryptocurrency market capitalization decreased by 2.6% in the past day, currently standing at $2.485 trillion.
In other news, Bybit card users can now utilize Apple Pay to fund their transactions.
