Large Outflows Seen in USAListed Spot Bitcoin BTC Exchange Traded Funds ETFs This Week

Spot Bitcoin (BTC) ETFs listed in the USA have experienced a significant decrease in inflows for the fifth consecutive day, marking their worst performance since mid-April. The outflows this week have surpassed $900 million, according to data from SoSoValue. On Thursday alone, 11 ETFs saw outflows of $140 million, with a trading volume of $1.1 billion. Grayscale’s GBTC and Fidelity’s FBTC were among the top ETFs with the highest outflows, while BlackRock’s IBIT was the only one to record net inflows, albeit at $1 million. This recent wave of outflows started on June 10 and has continued, following a period of increased inflows in late April. The challenges faced by Bitcoin ETFs can be attributed to factors such as major holders selling $1 billion worth of Bitcoin, the strength of the US dollar, and the strong performance of the US tech index market. It’s important to note that this information is not investment advice.