Bitcoin ETFs See $226.2M Outflows as BTC Trades Below $67K

Bitcoin ETFs bleed millions as BTC’s price falls below $67,000.

Guy getting rained in Bitcoin space.
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  • Bitcoin ETFs bled millions on Thursday.
  • Fidelity’s FBTC fund led the day’s outflows.
  • The massive outflows come after the funds attracted over $100 million on Wednesday.

U.S.-based spot Bitcoin exchange-traded funds (ETFs) hemorrhaged millions on Thursday, with Fidelity’s FBTC fund witnessing its second-largest net outflow day since its debut in January.

The massive outflows come after the Nasdaq-listed funds had a relatively successful trading day on June 12, pulling $100.8 million in net inflows. Interestingly, FBTC accounted for half of the day’s inflows.

Bitcoin ETF Flows on June 13

According to preliminary data by Farside Investors, spot Bitcoin ETFs recorded a total net outflow of $226.2 million on June 13.

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Fidelity’s FBTC bled $106.4 million as Grayscale’s GBTC, Ark Invest’s ARKB, VanEck’s HODL, Bitwise’s BITB, and Invesco’s BTCO reported net outflows of $61.5 million, $52.7 million, $11.3 million, $9.8 million, and $2.1 million, respectively.

The only net inflow on Thursday came from the largest spot Bitcoin ETF in net asset value, BlackRock’s IBIT, which attracted $18.2 million. The remaining funds, including Franklin Templeton’s EZBC, Valkyrie’s BRRR, Wisdom Tree’s BTCW, and Hashdex’s DEFI witnessed $0 inflows.

The shift in tide follows BTC’s recent and undergoing market corrections after the largest crypto asset by market cap notched a new all-time high of $73,750 on March 14. On April 30, Bitcoin wrapped up its worst monthly performance in nearly two years at $59,166, a plunge of about 19.59% from its March peak.

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As of press time, BTC had seen a 1.13% drop over the last 24 hours to exchange hands at $66,971, with a market capitalization of $1.3 trillion, CoinMarketCap data shows.

Stay updated on Thailand’s first spot Bitcoin ETF:
Thailand Approves First Spot Bitcoin Exchange-Traded Fund (ETF)

Read about the launch of spot Bitcoin ETFs in Hong Kong:
Analysts Evaluate Hong Kong Bitcoin ETFs’ Disappointing Debut

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Brian Danga

Brian Danga, a Kenyan crypto reporter, is dedicated to delivering breaking news and updates from the cryptocurrency world. With a background as a Web3 writer and project manager, he recognizes the importance of unbiased reporting. Holding an LLB degree from the University of Nairobi, Brian's analytical skills contribute to his accurate news reporting. His personal interests include cooking, watching documentaries, reading, and engaging in intellectual discussions.