Bitcoin ETF

Bitcoin

Spot

In the world of cryptocurrency investments, 11 US spot bitcoin exchange-traded funds (ETFs) experienced a substantial total net outflow of $226.21 million on June 13th. 
According to <a href="https://sosovalue.xyz/assets/etf/us-btc-spot" target="_blank" rel="noreferrer noopener nofollow">SoSoValue data</a>, Fidelity’s FBTC lost $106 million, its second-largest net outflow day since inception, while Grayscale’s GBTC and Ark Invest and 21Shares’ ARKB saw net outflows of $62 million and $53 million, respectively. 
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 <img fetchpriority="high" decoding="async" width="1024" height="402" src="https://www.cryptotimes.io/wp-content/uploads/2024/06/US-Spot-Bitcoin-ETFs-Witness-226M-Net-Outflow-led-with-Fidelity-1024x402.png" alt="US Spot Bitcoin ETFs Witness $226M Net Outflow led with Fidelity" class="wp-image-184004" srcset="https://www.cryptotimes.io/wp-content/uploads/2024/06/US-Spot-Bitcoin-ETFs-Witness-226M-Net-Outflow-led-with-Fidelity-1024x402.png 1024w, https://www.cryptotimes.io/wp-content/uploads/2024/06/US-Spot-Bitcoin-ETFs-Witness-226M-Net-Outflow-led-with-Fidelity-800x314.png 800w, https://www.cryptotimes.io/wp-content/uploads/2024/06/US-Spot-Bitcoin-ETFs-Witness-226M-Net-Outflow-led-with-Fidelity-768x302.png 768w, https://www.cryptotimes.io/wp-content/uploads/2024/06/US-Spot-Bitcoin-ETFs-Witness-226M-Net-Outflow-led-with-Fidelity-860x338.png 860w, https://www.cryptotimes.io/wp-content/uploads/2024/06/US-Spot-Bitcoin-ETFs-Witness-226M-Net-Outflow-led-with-Fidelity.png 1135w" sizes="(max-width: 1024px) 100vw, 1024px">
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 Bitcoin ETF Chart | Source: SoSoValue
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Bitwise and VanEck saw net outflows of around $10 million each, Invesco and Galaxy Digital’s BTCO faced $3 million in net outflows, and BlackRock’s IBIT, the largest spot bitcoin fund by net asset value, received an $18 million inflow on June 13th. 
Since their listing in January, the 11 U.S. spot bitcoin ETFs have gathered a total net inflow of $15.30 billion, yet bitcoin’s price decreased by 1.48% over the last 24 hours, reaching $66,704. 
The SEC granted preliminary approval for spot ether ETF applications last month, pending the green light on their S-1 registration statements for an official launch.&nbsp; 
Analysts at JPMorgan anticipate spot ether funds to commence trading before November this year, potentially capturing up to 20% of current investments flowing into spot Bitcoin ETFs. 
Institutional investors express concerns about the attractiveness of spot ether funds, as issuers remove staking components from ETFs due to regulatory uncertainty, potentially deterring institutional interest, noted by crypto derivatives trader Gordon Grant. 
The substantial net outflows from several US spot bitcoin ETFs, coupled with BlackRock’s IBIT receiving a notable inflow, indicate a mixed sentiment among investors towards cryptocurrency investments, reflecting ongoing market volatility and uncertainty. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/06/12/institutional-cash-and-carry-boosts-u-s-bitcoin-etfs-says-glassnode/" target="_blank" rel="noreferrer noopener">Institutional Cash-and-Carry Boosts U.S. Bitcoin ETFs, Says Glassnode</a> 
</blockquote>

US Spot Bitcoin ETFs Witness $226M Net Outflow on June 13

The Crypto Times

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