Bitcoin ETF Sees Major $64.9 Million Outflow, Ending 19-Day Inflow Streak

By: Isha Das

Bitcoin ETF Sees Major $64.9 Million Outflow, Ending 19-Day Inflow Streak

According to recent data from Farside, Bitcoin (BTC) exchange-traded funds (ETFs) witnessed a significant $64.9 million outflow on June 10. This marked the first outflow since May 10, terminating a 19-consecutive trading-day inflow streak. The outflows were largely driven by four ETF issuers.

Grayscale's GBTC led the outflow trend with a substantial $39.5 million, pushing their total outflows to $18 billion. Invesco's BTCO Galaxy ETF also recorded considerable outflows of $20.5 million, though the ETF's overall net inflow remains in positive territory at $300 million. Additionally, Valkyrie's BRRR ETF experienced outflows amounting to $15.8 million, yet it maintains a healthy total net inflow of $497 million. Fidelity's FBTC witnessed a smaller outflow of $3 million but continues to boast a robust total inflow of $9.6 billion.

In contrast, positive inflows were recorded by two issuers during this period. BlackRock's IBIT saw an inflow of $6.3 million, while Bitwise's BITB ETF realized an inflow of $7.6 million. Despite the recent outflows, the cumulative inflows into Bitcoin ETFs remain substantial, totaling $15.6 billion.

On a broader market context, Bitcoin prices slipped below $68,000 while Asian stocks also experienced a decline. These developments underscore a volatile period for Bitcoin and associated financial instruments, but the long-term inflow data suggests continued investor interest in Bitcoin ETFs.