Flows into Bitcoin ETFs Break a 19-Day Streak in Positive Territory
The value of Bitcoin decreased to a weekly low in anticipation of US inflation data and a Federal Reserve meeting scheduled for Tuesday.
This drop was accompanied by the first net outflow from United States spot Bitcoin exchange-traded funds (ETFs) in 19 trading days.
This decline occurred as all 11 US spot Bitcoin ETFs experienced a combined net outflow of $64.9 million on June 10 – the first outflow in one month, according to Farside Investors.
Among these ETFs, the Grayscale Bitcoin Trust (GBTC) had the largest outflow of $39.5 million, followed by $20.5 million from the Invesco Galaxy Bitcoin ETF (BTCO), and a small $3 million outflow from the Fidelity Wise Origin Bitcoin Fund (FBTC).
In comparison, Bitwise and BlackRock’s ETFs only saw modest inflows of $7.6 million and $6.3 million, respectively.
