Bitcoin ETFs continue to see capital outflows for five consecutive days, with $139.88 million withdrawn today.
Price Bitcoin fell below $64,000 on Friday, hitting a low of $63,421.37, according to data from CoinMarketcap. This drop comes amid heavy outflows from US Bitcoin spot ETFs, a total of $139.88 million on Thursday.
According to SoSoValue data, Grayscale Bitcoin Trust (GBTC) saw $53 million in daily net outflows, while Fidelity Wise Origin Bitcoin Fund (FBTC) followed by an outflow of $51 million.
📊 Bitcoin ETF Tracker | 2024-06-20
🟥 Daily Total Net Inflow -$139.88M
💰 Total Value Traded $1.16B
🏦 Total Net Assets $56.41B
📊 ETF Market Value Ratio 4.4%🥇 Net Inflows/Outflows for Each ETF
🟩 IBIT +$1.48M
⬜️ ARKB $0
⬜️ BTCW $0
⬜️ BRRR $0
⬜️ EZBC $0
⬜️ DEFI $0
🟥 BTCO… pic.twitter.com/H9ehpaJpEE— SoSo Value (@SoSoValueCrypto) June 21, 2024
Most remaining funds recorded cash outflows, Bitwise Bitcoin ETF saw outflows of $32 million, while VanEck Bitcoin Trust and Invesco Galaxy Bitcoin ETF saw outflows of $4 million and $2 million, respectively.
Opposite, BlackRock’s iShares Bitcoin Trust was the only ETF to return intraday investments of $1.5 million. In addition, funds ARK 21Shares Bitcoin ETF (ARKB), Franklin Templeton Bitcoin ETF (EZBC) and WisdomTree Physical Bitcoin (BTCW) did not witness any fluctuations in capital flows during the intraday trading session.
With continued capital outflows, US Bitcoin spot ETFs marked their fifth consecutive day of losses.
However, this is not the longest losing streak as the longest losing streak occurred from April 24 to May 2, leading to a decrease of $1.2 billion.
Analysts believe that the continuous decline in ETF inflows has led to a serious decline in the value of Bitcoin today. At the time of writing, Bitcoin is trading at around $63,903, down nearly 9% in one month.
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