Bitcoin ETF Roundup June 18: Product Sees $152M Outflow, GBTC Loses $62M in a Day

Spot Bitcoin exchange-traded funds (ETFs) have continued their outflow streak, seeing $152.42 million in net outflows on June 18.

With the latest sell-off, the financial products have now seen outflows for the fourth straight trading days. Moreover, this marks the sixth outflow seen over the past seven trading days.

Outflows for June 18

According to data from SoSoValue, Fidelity Wise Origin Bitcoin Fund (FBTC) led the breakout with a net outflow of $83 million. 

Following FBTC is Grayscale Bitcoin Trust (GBTC), with a net outflow of $62 million. This brings GBTC’s historical net outflow to $18 billion. Also on the outflow list is Bitwise Bitcoin ETF (BITB), with $7 million in net outflow.

The remaining eight spot Bitcoin ETFs, including BlackRock iShares Bitcoin Trust (IBIT), ARK 21Shares Bitcoin ETF (ARKB), VanEck Bitcoin Trust (HODL), Valkyrie Bitcoin Fund (BRRR), Invesco/Galaxy (BTCO), Franklin Bitcoin ETF (EZBC), WisdomTree Bitcoin Fund (BTCW), and Hashdex Bitcoin ETF (DEFI), recorded zero flows on June 18.

With the latest flows, the 11 spot Bitcoin ETFs now have a cumulative net inflow of $14.81 billion since they started trading on January 11, 2024. During their peak on June 7, the products had a cumulative net inflow of $15.7 billion. Before this product saw net outflows, they saw an impressive net inflow for 19 straight trading days.

Analysts have attributed the recent outflow streak to investors’ caution and shift from riskier assets following the recent release of US nonfarm payrolls and unemployment data.

Bitcoin Struggle Continues 

Meanwhile, the recent outflow streak has rubbed off on the price of Bitcoin (BTC). Data from CoinGecko shows that BTC is down 8% from the past two weeks and 4% over the past week.

At the time of filing this report, BTC was hovering around $65,000.