ETFs
Spot BTC ETFs record first day of outflows in 4 weeks
The constant inflows of the Bitcoin spot (BTC) exchange traded funds (AND F) in the United States ended after four weeks.
According to data Provided by Farside Investors, spot BTC ETFs in the United States saw $64.9 million in net outflows on June 10, ending their four weeks of consecutive victories. The majority of outflows belong to Grayscale Bitcoin Trust (GBTC) – recording $39.5 million in outflows.
The Invesco Galaxy Bitcoin ETF (BTCO), Valkyrie Bitcoin Fund (BRRR), and Fidelity Wise Origin Bitcoin Fund (FBTC) each saw $20.5 million, $15.8 million, and $3 million in outflows , respectively.
In contrast, only Bitwise Bitcoin ETF (BITB) and iShares Bitcoin Trust (IBIT) saw inflows of $7.6 million and $6.3 million, respectively.
Importantly, total net inflows for spot BTC ETFs in the US surpassed the $15.6 billion mark, driven by four weeks of consistent inflows – recording over $4 billion in net inflows between May 13 and June 7.
The bearish sentiment comes as investors take a cautious approach ahead of the release of US CPI data, scheduled for June 12. Last month, the CPI rose to 3.4%, as expected, which ultimately brought bullish sentiment across the market.
Consequently, the global crypto market cap has decreased by 2.8% in the last 24 hours and is hovering at $2.59 trillion, according to data from CoinGecko.
Bitcoin plunged to $67,600 and Ethereum (ETH) is approaching the $3,500 mark. Currently, 94 of the top 100 cryptocurrencies are wandering in the red zone.