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

• 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.

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.

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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.

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