Third Consecutive Day of Outflows for US Spot Bitcoin ETFs, $145 Million Drained on Monday

U.S. spot bitcoin exchange-traded funds (ETFs) saw their third straight day of outflows on Monday, losing over $145 million, with Fidelity’s FBTC leading the decline as $92 million exited the fund on June 17. 

According to sosovalue.xyz, U.S.-based spot bitcoin ETFs collectively experienced approximately $145.83 million in outflows on Monday, accompanied by a trading volume of about $1.24 billion. Among the 11 funds tracked, only one reported inflows, while Grayscale’s GBTC saw a $3 million decrease, and Blackrock‘s IBIT remained neutral.

The continuous outflows highlight a shift in investor sentiment, with Fidelity’s FBTC and Ark Invest’s ARKB facing substantial withdrawals, increasing pressure on fund managers to stabilize their assets under management (AUM). On the flip side, Bitwise’s BITB fund was the sole gainer, attracting about $3 million in inflows amid the overall declines.

Clever Robot News Desk 19^th June 2024