Bitcoin ETF

Bitcoin

Read

Grayscale Bitcoin Trust

The constant inflows of the spot Bitcoin (<a href="https://crypto.news/price/bitcoin/" rel="">BTC</a>) exchange-traded funds (<a href="https://crypto.news/tag/etf/" rel="">ETFs</a>) in the U.S. have come to an end after four weeks. 
According to <a href="https://farside.co.uk/?p=997" target="_blank" rel="">data</a> provided by Farside Investors, spot BTC ETFs in the U.S. recorded $64.9 million in net outflows on June 10 — ending their <a href="https://crypto.news/spot-btc-etfs-start-4th-consecutive-week-with-positive-inflows/" rel="">four-week winning streak</a>. The majority of the outflows belong to Grayscale Bitcoin Trust (GBTC) — registering $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.&nbsp; 
On the other hand, only Bitwise Bitcoin ETF (BITB) and iShares Bitcoin Trust (IBIT) recorded inflows of $7.6 million and $6.3 million, respectively.&nbsp; 
 You might also like: <a href="https://crypto.news/maga-strump-memecoins-tumble-amid-trump-medias-new-sec-filing/" rel=""> MAGA, STRUMP memecoins tumble amid Trump Media’s new SEC filing </a> 
It’s important to note that the total net inflows of spot BTC ETFs in the U.S. have surpassed the $15.6 billion mark, thanks to the four weeks of constant inflows — recorded 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 U.S. CPI data release, scheduled for June 12.&nbsp;Last month, the CPI came at 3.4%, as expected, which eventually <a href="https://crypto.news/crypto-market-cap-surpasses-the-2-5t-mark-following-cpi-data/" rel="">brought</a> market-wide bullish sentiment. 
Consequently, the global crypto market capitalization declined by 2.8% in the past 24 hours and is hovering at $2.59 trillion, according to <a href="https://www.coingecko.com/en/global-charts" target="_blank" rel="">data</a> from CoinGecko. Bitcoin plunged to $67,600 and Ethereum (<a href="https://crypto.news/price/ethereum/" rel="">ETH</a>) is closing down to the $3,500 mark. At this point, 94 of the leading 100 cryptocurrencies are wandering in the red zone. 
 Read more: <a href="https://crypto.news/bitcoin-ethereum-exchange-balances-at-4-year-low/" rel=""> Bitcoin, Ethereum exchange balances at 4-year low </a>

Spot BTC ETFs record first day of outflows in 4 weeks

crypto.news

Other articles published on Jun 11, 2024

AI startups use Brazilian kids’ pictures to train models without consent

Polygon launches new grants program with 1 billion POL

Top 6 Cryptocurrencies to Invest in 2024!: Bitgert, Toncoin, Ondo, Solana, Uniswap, Wormhole

Raboo’s Crypto Presale Surges Ahead, Overtaking Bonk and Brett as They Lose Steam

5 AI Cryptocurrencies Likely To Explode After Nvidia (NVDA) Stock Split

UwU Lend Falls Prey to $20M Flash Loans Hack, Founder Launches 20% Bounty to Retrieve Funds

Join our free newsletter for daily crypto updates!