US Spot Bitcoin Exchange Traded Funds Mark Fifth Consecutive Day of Outflows

US spot Bitcoin Exchange Traded Funds recorded a net outflow of $140 million on Thursday marking a fifth consecutive day of money leaving the funds.

US spot Bitcoin Exchange Traded Funds recorded a net outflow of $140 million on Thursday, marking a fifth consecutive day of money leaving the funds.

The various spot Bitcoin ETFs approved by the United States Securities and Exchange Commission recorded a total of $139.88 million outflow from their collective funds.

The highest amount of daily net outflow occurred in Grayscale’s GBTC which recorded an outflow of $53 million. In second place is Fidelity’s FBTC which posted an outflow of $51 million.

The third position went to Bitwise’s BITB which experienced a net outflow of $32 million.

VanEck’s ETF logged net outflows of $4 million while the fund from Invesco and Galaxy Digital saw $2 million in net outflows. The above data on the net outflows that occurred in the various spot Bitcoin ETF was curated by Sosovalue.

Not all Bitcoin ETFs recorded an outflow yesterday, with Blackrock’s IBIT being the only Bitcoin ETF to record an inflow.

On Thursday, IBIT recorded a net inflow of $1 million and a daily trade volume of $565 million.

The remaining Bitcoin ETFs in the US market recorded zero flows, including Ark Invest, Valkyrie, Franklin Templeton, WisdomTree, and Hashdex Bitcoin ETFs.

So far this week, US-approved spot Bitcoin ETFs have recorded a total of $900 million in net outflows following a five-day streak of outflows leading up to Thursday.

Grayscale’s GBTC and Fidelity’s FBTC led the outflows, while BlackRock’s IBIT was the only ETF to record net inflows during the week.

This week’s outflow activity is the worst Outflow trend since late April, which saw $1.2 billion in total net outflows in trading sessions from April 24 to May 2.

After the brief outflow trend, inflows picked up in the market and saw the Bitcoin ETFs adding more than $4 billion in the next 19 days of trading.

The current outflow trend started on June 10. The total trading volume for all the Bitcoin ETFs added up to $1.16 billion on Thursday, down from Tuesday’s $1.7 billion.

Since their approval in January, the 11 spot Bitcoin ETFs have amassed a total net inflow of $14.67 billion as of Thursday.

News source：https://www.kdj.com/cryptocurrencies-news/articles/spot-bitcoin-exchange-traded-funds-mark-consecutive-day-outflows.html

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