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.

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.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.