- On Tuesday, June 18, no spot Bitcoin ETF had an inflow, marking the first such event.
- Fidelity’s FBTC had the most outflow, totaling $83 million.
A net outflow of $152.42 million from U.S. spot bitcoin exchange-traded funds occurred on Tuesday, the fourth day in a row of such withdrawals.
Consistent outflows over the last four trading sessions have caused a significant pause in the spot Bitcoin ETF market. On Tuesday, June 18, no spot Bitcoin ETF had an inflow, marking the first such event since the inception in January 2024.
Struggle Continues
SosoValue data shows that out of the 11 ETFs, Fidelity’s FBTC had the most outflow, totaling $83 million. Bitwise’s BITB had a net outflow of around $7 million, while Grayscale’s GBTC recorded a net outflow of $62 million. Tuesday saw no inflows into the other eight exchange-traded funds.
The statistics indicated that the total net inflows for the eleven spot bitcoin ETFs were $14.81 billion as of Tuesday, down from a high of $15.69 billion on June 7. Up to June 7, the funds had a 19-day running total of inflows. At present, a large portion of the market share is dominated by the two leading firms, BlackRock and Fidelity.
On Tuesday, there was a total of $1.7 billion worth of ETF trading volume, up from $1.24 billion on Monday. As of this writing, the Bitcoin price is attempting to maintain a level over $65,000, despite selling pressure caused by recent outflows and a general lack of enthusiasm. Meanwhile, since their inception last week, spot Bitcoin ETFs in Australia have been seeing small inflows of capital.
Bitcoin’s recent collapse through a crucial price support level, according to a research by CryptoQuant experts published on Tuesday, might indicate an 8% to 12% correction, which could cause the price to plummet near $60,000.
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