Franklin

Bitcoin ETF

Bitcoin

Time

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Bitcoin ETFs saw $106 million in outflows on June 21.</li> 
 <li>Bitcoin is trading above $64,000.</li> 
</ul> 
<p>According to the latest reports from SoSoValue, Bitcoin ETFs recorded $106 million in outflows on June 21. This was the sixth consecutive day in which the crypto products in the US recorded outflows.</p> 
<p>Here are the outflows and inflows in Bitcoin ETF from yesterday, as per official data:</p> 
<ul> 
 <li>Grayscale’s Bitcoin ETF, GBTC, recorded $34 million in outflows.</li> 
 <li>Fidelity’s Bitcoin ETF, FBTC, recorded $45 million in outflows.</li> 
 <li>Ark Invest and 21Shares’ Bitcoin ETF, ARKB, recorded $29 million in outflows.</li> 
 <li>Franklin Templeton’s Bitcoin ETF, EZBC, recorded $2 million in inflows.</li> 
</ul> 
<p>BlackRock’s Bitcoin ETF, IBIT, and the other BTC ETFs did not see any inflows or outflows yesterday.</p> 
<figure id="attachment_45380" aria-describedby="caption-attachment-45380" style="width: 100%" class="wp-caption alignnone">
 <a href="https://crypto.ro/en/wp-content/uploads/2024/06/sosovalue.png"><img loading="lazy" decoding="async" class="wp-image-45380 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/06/sosovalue.png" alt="SoSoValue" width="1642" height="706" title="Bitcoin ETFs Recorded $106M Outflows On June 21 18" srcset="https://crypto.ro/en/wp-content/uploads/2024/06/sosovalue.png 1200w, https://crypto.ro/en/wp-content/uploads/2024/06/sosovalue-300x129.png 300w, https://crypto.ro/en/wp-content/uploads/2024/06/sosovalue-1024x440.png 1024w, https://crypto.ro/en/wp-content/uploads/2024/06/sosovalue-768x330.png 768w, https://crypto.ro/en/wp-content/uploads/2024/06/sosovalue-750x322.png 750w, https://crypto.ro/en/wp-content/uploads/2024/06/sosovalue-1140x490.png 1140w" sizes="(max-width: 1642px) 100vw, 1642px"></a>
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  SoSoValue
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<p>The total net assets in Bitcoin ETFs are $55.5 billion.</p> 
<p>Since their launch in January, the 11 spot Bitcoin funds have collectively seen a total net inflow of $14.56 billion as of Friday, according to the same <a href="https://sosovalue.xyz/assets/etf/us-btc-spot" rel="nofollow noopener" target="_blank">data</a>.</p> 
<p>According to the latest reports coming from Bernstein analysts, Bitcoin ETFs are close to being approved at major warehouses and large private bank platforms in Q3 and Q4 2024.</p> 
<p>Analysts Gautam Chhugani and Mahika Sapra recently stated that institutional basis trade will mark a huge stepping stone for the adoption of crypto at a global scale.</p> 
<p>These investors are considering net long positions as they become more comfortable with the improving ETF liquidity.</p> 
<h2 id="bitcoin-is-trading-above-64-000">Bitcoin is trading above $64,000</h2> 
<p>At the moment of writing this article, BTC is trading above $64,000.</p> 
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<p>The other day, the coin<a href="https://crypto.ro/en/news/bitcoin-sell-off-surges-as-value-plummets-under-64000-mark/"> saw a dip</a> below the level mentioned above ahead of a rebound in price.</p> 
<p>Now, Bitcoin’s market cap is $1.26 trillion.</p> 
<p>Bitcoin on-chain analyst Willy Woo recently addressed the price of Bitcoin and what it takes for it to see a recovery.</p> 
<p>He highlighted once more that BTC’s price will surge again once the miner capitulation is over and the <a href="https://crypto.ro/en/news/bitcoin-btc-to-surge-when-weak-miners-die-and-hash-rate-recovers/">hash rate recovers</a>.</p> 
<p>Woo said that this one is for the record books, as it’s taking a lot of time for miner capitulation post the halving event. Bitcoin’s halving took place on April 20.</p>

Bitcoin ETFs Recorded $106M Outflows On June 21

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