On June 13, US spot Bitcoin exchange-traded funds (ETFs) faced significant net outflows, totaling $226.21 million.
Fidelity’s FBTC experienced the largest outflow, losing $106 million, marking its second-largest single-day net outflow since inception.
Grayscale’s GBTC and the ARKB ETF from Ark Invest and 21Shares also saw substantial outflows of $62 million and $53 million, respectively.
Bitwise and VanEck each recorded $10 million in outflows, while Invesco and Galaxy Digital’s BTCO saw $3 million leave their funds.
In contrast, BlackRock’s IBIT, the largest spot Bitcoin fund by net asset value, bucked the trend with an $18 million inflow.
Since their debut in January, the 11 US spot Bitcoin ETFs have accumulated $15.30 billion in net inflows.
Despite this, Bitcoin’s price dropped by 1.48% over the past 24 hours, settling at $66,704.
This suggests that investor sentiment remains mixed, with some taking profits or reallocating funds amid fluctuating prices.
The Securities and Exchange Commission (SEC) recently granted preliminary approval for spot ether ETF applications.
Analysts at JPMorgan expect these funds to begin trading by November, potentially drawing 20% of the investments currently directed towards Bitcoin ETFs.
However, concerns linger about the attractiveness of these ether funds, particularly as issuers exclude staking components due to regulatory uncertainties, which may deter institutional investors.
The mixed inflows and outflows among different ETFs reflect the ongoing debate among investors regarding the stability and future potential of cryptocurrency investments.
While some funds like BlackRock’s IBIT continue to attract capital, others are witnessing significant withdrawals, highlighting the broader market’s unpredictable nature…
