Bitcoin ETFs recorded their sixth consecutive day of outflows, totaling more than $545 million.
Amid broader crypto market downturn, US Bitcoin exchange-traded funds (ETFs) continue to seeThe sixth day in a row of capital outflows, with close $106 million in capital withdrawals on Friday, June 21.
The market has endured persistent outflows throughout the trading week, recording more than total $545 million. This is the sixth consecutive day of negative net cash flow for the market.
📊 Bitcoin ETF Tracker | 2024-06-21
🟥 Daily Total Net Inflow -$105.96M
💰 Total Value Traded $1.31B
🏦 Total Net Assets $55.55B
📊 ETF Market Value Ratio 4.39%🥇 Net Inflows/Outflows for Each ETF
🟩 EZBC +$1.86M
⬜️ IBIT $0
⬜️ BTCO $0
⬜️ BTCW $0
⬜️ BRRR $0
⬜️ BITB $0
⬜️ HODL… pic.twitter.com/5J9fPVFJaR— SoSoValue (@SoSoValueCrypto) June 22, 2024
Among individual ETFs, Fidelity’s FBTC led outflows on Friday with $44.8 million. Grayscale’s GBTC closely followed by outflows of $34.2043 million. Third place is ARKB by Ark Invest also saw outflows of $28.8 million.
Additionally, ETFs including BlackRock’s IBIT, Bitwise’s BITB, VanEck Bitcoin Trust’s HODL, Valkyrie Bitcoin Fund’s BRRR, and Invesco Galaxy’s BTCO, reported net cash flow is zero on Friday.
Notably, fund Franklin Bitcoin ETF (EZBC) was the only exception, recording modest inflows of $1.9 million.
This continued decline has brought cumulative net cash flow down to $14.56 billion after 112 trading days. The total net asset value of spot Bitcoin ETFs currently stands at $55.547 billion.
The continued outflow from spot Bitcoin ETFs underscores the ongoing challenges facing the cryptocurrency market, as investors are extremely cautious to regulatory changes and market fluctuations.
While some institutions remain optimistic about Bitcoin’s long-term potential, recent outflows highlight demand for Bitcoin. more stability and maturity further within this ecosystem before broader adoption can occur.
Spot Bitcoin ETFs continue to see capital outflows as BTC declines in price
