Bitcoin ETF Roundup June 10: Funds Halt Inflow Streak as BTC Struggles

The longest Bitcoin spot exchange-traded fund (ETF) inflow streak ended on Monday after the product recorded a $64.9 million net outflow. The fund had gone 19 days with net inflows and had accumulated over $4 billion worth of bitcoin before the halt.

Bitcoin tumbled over 2% following the inflow halt, trading at $67,500 for the first time since June 1. The broader market also saw drawdowns, with Ethereum hitting $3,500 and Solana trading at $154.

Grayscale Leads Outflow

Grayscale’s GBTC had the largest outflow on Monday, with investors pulling out $39.5 million. This is the third consecutive day the fund has seen outflows, with $113.4 million flowing out during the period.

Invesco’s BTCO saw the second-largest outflow, recording $20.5 million, while Valkyre’s BRRR saw a negative flow of $15.8 million. Fidelity’s FBTC recorded its first single-day net outflow for the first time in 40 days, with the last outflow of $191.1 million dating back to May 1.

Inflows from BlackRock’s IBIT and Bitwise’s BIBT couldn’t remedy the large outflows on the day. IBIT saw a $6.3 million inflow, while BIBT scooped in $7 million from investors. The outflow on Monday saw the total net inflow for the spot Bitcoin ETF drop to $15.62 billion.

Bitcoin Continues to Struggle

The largest crypto asset again struggled after dropping sharply early Tuesday. Bitcoin lost over 2% in a few hours during the Asian trading section, continuing its bearish downside.

Bitcoin failed to see higher prices despite the incessant inflows from ETF products. The last time such inflows occurred, Bitcoin rose to an all-time high of $73,700.

With the Federal Reserve System (Fed) set to release the Consumer Price Index (CPI) data for May, Bitcoin, like other risk assets, expects to see some volatility. At press time, Bitcoin was trading at $67,570.