Bitcoin ETF

Bitcoin

Grayscale Bitcoin Trust

Spot Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">BTC</a>) exchange-traded fund (<a href="https://crypto.news/tag/etf/" target="_blank" rel="noopener noreferrer nofollow">ETF</a>) outflows continued as the week started. Consequently, the total net inflows of the investment products in the U.S. dropped below the $15 billion mark.
According to <a href="https://farside.co.uk/?p=997" target="_blank" rel="noopener noreferrer nofollow">data</a> provided by Farside Investors, spot Bitcoin ETFs recorded a net outflow of $145.9 million on Jun. 17. Most of the outflows came from the Fidelity Wise Origin Bitcoin Fund (FBTC) and ARK 21Shares Bitcoin ETF (ARKB), worth $92 million and $50 million, respectively.
Moreover, the VanEck Bitcoin Trust (HODL) and Grayscale Bitcoin Trust (GBTC) also had smaller shares of $3.8 million and $3 million in outflows, respectively.
You might also like: <a href="https://crypto.news/vaneck-bags-australias-first-spot-bitcoin-etf/" rel="noopener noreferrer nofollow"> VanEck bags Australia’s first spot Bitcoin ETF </a>
Despite the bearish market sentiment and continuous outflows, the Bitwise Bitcoin ETF (BITB) still recorded $2.9 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 $580.6 million in net outflows last week alone. The massive outflows came after four weeks of <a href="https://crypto.news/spot-btc-etfs-record-first-day-of-outflows-in-4-weeks/" target="_blank" rel="noopener noreferrer nofollow">consecutive net inflows</a> in the investment products, amounting to a total of roughly $4 billion.
The latest series of outflows have brought the total amount of net inflows in spot BTC ETFs to $14.96 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 <a href="https://crypto.news/bitcoin-falls-below-66k-exchange-activity-rises/" target="_blank" rel="noopener noreferrer nofollow">falling</a> below the $66,000 mark. Per the report, the global cryptocurrency market capitalization plunged by 2.6% over the past day and is sitting at $2.485 trillion.
Read more: <a href="https://crypto.news/bybit-card-users-can-now-use-apple-pay-to-fund-transactions/" rel="noopener noreferrer nofollow"> Bybit card users can now use Apple Pay to fund transactions </a>

Bitcoin ETF outflows continue, total amount falls below $15b

crypto.news

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