Bitcoin

Million

Spot

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According to a recent report, on June 20, spot Bitcoin exchange-traded funds (ETFs) saw a massive outflow of $140 million, marking the fifth consecutive day of BTC outflows from these entities.
This data was shared by popular cryptocurrency journalist and blogger Colin Wu on his X account. Wu specified that Grayscale’s ETF, GBTC, lost $53.1 million in a single day. BlackRock’s ETF IBIT faced an outflow of $1.4791 million. However, currently, IBIT holds a total of $17.643 billion in BTC holdings.
<blockquote>
 On June 20, the total net outflow of Bitcoin spot ETFs was $140 million, the fifth consecutive day of outflows, Grayscale ETF GBTC had a single-day outflow of $53.1022 million, and BlackRock ETF IBIT had a single-day inflow of $1.4791 million. Currently, the total historical net…— Wu Blockchain (@WuBlockchain) <a href="https://twitter.com/WuBlockchain/status/1804000327441748416?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 21, 2024</a>
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Over the past five days, Grayscale has lost $232 million. This is still less than what has been lost by Fidelity (FBTC) over the same period of time — $413 million.
These outflows have been taking place while, this week, the world’s flagship cryptocurrency, <a href="https://u.today/bitcoin-suddenly-reclaims-67k-as-shorts-get-crushed" rel="noopener noreferrer nofollow">Bitcoin, gradually</a> plunged by nearly 5.2% as it lost the $67,000 price level. At the time of this writing, BTC is changing hands at $63,880.
<h2 id="smart-whale-sells-large-btc-chunk">Smart whale sells large BTC chunk</h2>
@lookonchain analytics account has shared that while ETFs are selling their BTC, a smart whale has followed suit. This trader transferred 660 BTC to the Binance exchange to sell. The tweet also shared some details about this whale’s previous successful trades.
In the last year, he traded <a href="https://u.today/microstrategys-enormous-bitcoin-purchase-announced-by-michael-saylor-details" rel="noopener noreferrer nofollow">large amounts of BTC</a> twice, making a healthy profit on each those trades — more than $30 million overall.
<blockquote>
 What a smart money!He traded <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> 2 times in the past year and made money every time, making more than $30M in total!5 hours ago he deposited all 660 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>($42.85M) to Binance for profit.Bought 718 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> at $29,385 from Aug 9 to Nov 2, 2023 and sold at $41,953 from Dec 15 to… <a href="https://t.co/gRP26LbAXS" rel="noopener noreferrer nofollow">pic.twitter.com/gRP26LbAXS</a>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1804005544996565234?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 21, 2024</a>
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In one of these large trades, the trader purchased 718 Bitcoins between August and November last year at roughly $29,385 and then sold them at $41,953 in December, earning $9 million (+43%).
The second trade concerned the 1,181 BTC he bought between February and May 13 this year. The whale sold this Bitcoin on May 27 and June 20, earning $21.2 million (+37%).

Bitcoin ETFs Continue Bleeding — $140 Million Outflow Registered

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