Bitcoin ETF outflows continue, total amount falls below $15b

Spot Bitcoin (BTC) exchange-traded fund (ETF) outflows continued as the week began. As a result, the total net inflow of investment products in the USA fell below 15 billion dollars.

Spot Bitcoin ETFs recorded net outflows of $145.9 million on June 17, according to data provided by Farside Investors. Most of the outflows came from the Fidelity Wise Origin Bitcoin Fund (FBTC) and the ARK 21Shares Bitcoin ETF (ARKB), valued at $92 million. and $50 million respectively.

Moreover, VanEck Bitcoin Trust (HODL) and Grayscale Bitcoin Trust (GBTC) also held smaller stakes of $3.8 million and $3 million respectively.

Despite bearish market sentiment and persistent outflows, Bitwise Bitcoin ETF (BITB) still recorded inflows of $2.9 million on June 17, according to data from Farside Investors. The remaining ETFs remained neutral.

It’s important to note that spot Bitcoin ETFs recorded net outflows of $580.6 million last week alone. The massive outflows followed four consecutive weeks of net inflows in investment products totaling nearly $4 billion.

The latest series of outflows brought total net inflows in spot BTC ETFs to $14.96 billion, according to data from Farside Investors.

The outflows come as the broader crypto market witnessed increased FUD (fear, doubt and uncertainty) and BTC price fell below $66,000. According to the report, the capitalization of the global cryptocurrency market decreased by 2.6% in the past day and reached 2.485 trillion dollars.