US spot bitcoin ETFs see $152 million in net outflows, extending negative streak to four days
Quick Take
- U.S. spot bitcoin ETFs recorded $152.42 million in net outflows on Tuesday.
- This marked the fourth consecutive day of daily net outflows.
- Fidelity’s FBTC had the largest outflows with a net outflow of $83 million.
The U.S. spot bitcoin exchange-traded funds recorded $152.42 million in net outflows on Tuesday, marking the fourth consecutive day of daily net outflows.
Fidelity’s FBTC saw the largest outflows among the 11 ETFs, logging a net outflow of $83 million, according to data from SosoValue. Grayscale’s GBTC reported a net outflow of $62 million, while Bitwise’s BITB saw about $7 million in net outflows.
The other eight ETFs recorded zero flows on Tuesday.
The 11 spot bitcoin ETFs had cumulative net inflows of $14.81 billion as of Tuesday, down from their peak of $15.69 billion on June 7, the data showed. The products recorded a 19-day streak of inflows until June 7.
The total trading volume for the ETFs amounted to $1.7 billion on Tuesday, compared to Monday’s $1.24 billion.
RELATED INDICES
The price of bitcoin edged down 0.35% over the past 24 hours to change hands at around $65,498 at the time of publication, according to The Block’s bitcoin price page.
CryptoQuant analysts said in a Tuesday report that bitcoin has fallen through a key price support level that could signal an 8% to 12% correction, potentially leading the price to decline toward $60,000.
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