Outflows Surge for US BTC Spot ETFs, Grayscale Leads with $200M Outflow
SpotOnChain, a leading on-chain analytics provider, reported that Bitcoin ETFs in the United States witnessed massive outflows amounting to $200 million on June 11th. The platform shared this information on its official X account, highlighting the significant developments.
According to the data, no US Bitcoin ETFs received any inflows on that day. Grayscale’s GBTC ETF saw a substantial increase in outflows, jumping from $39.5 million to $121 million, marking a threefold surge. Meanwhile, BlackRock’s IBIT ETF remained neutral with a net flow of $0.
In a tweet posted on June 12, 2024, SpotOnChain revealed the latest figures, emphasizing the negative trend in ETF outflows. The report indicated that the total asset value of BTC spot ETFs dipped below $60 billion, currently standing at $59.227 billion.
The analytics platform further detailed the outflows experienced by other ETFs, including Fidelity’s FBTC and Bitwise’s BITB. FBTC saw outflows of $7.4 million, while BITB recorded outflows worth $11.7 million. These figures contribute to the overall decline in the cumulative asset value of BTC spot ETFs.
Overall, the data reflects a challenging period for US BTC spot ETFs, with Grayscale leading the pack in terms of outflows. The market dynamics continue to evolve, impacting the asset value and investor sentiment within the ETF landscape.