📉 Bitcoin ETFs Experience First Outflow in Over Two Weeks
🔄 Bitcoin exchange-traded funds (ETFs) experienced a significant shift after a remarkable 15-day inflow streak, recording a net outflow of $342 million. This marked the first outflow in over two weeks, with investors withdrawing $342.25 million from U.S. spot bitcoin funds.
After more than two weeks of steady inflows, bitcoin exchange-traded funds (ETFs) finally hit the brakes.
📉 The outflows were primarily driven by Fidelity’s FBTC, which saw an exit of $172.73 million. Grayscale’s GBTC followed with a withdrawal of $119.51 million. Other funds like Ark 21Shares’ ARKB and Bitwise’s BITB also contributed to the outflow with withdrawals of $27.03 million and $22.98 million respectively. Despite these outflows, trading activity remained robust with $2.79 billion in value exchanged, bringing net assets down to $131.30 billion.
📈 In contrast, ether ETFs continued to show strength with their third consecutive day of inflows. Blackrock’s ETHA led the way with an injection of $54.84 million, while Grayscale’s ETHE added $9.96 million. Although there was a partial offset from a $24.11 million outflow from Fidelity’s FETH, the day still closed positively with $40.68 million in net inflows. Total value traded for ether ETFs reached $385.37 million, maintaining net assets at $9.95 billion.
While bitcoin ETFs took a breather, ether products quietly continued their recovery, signaling a potential rebalancing of institutional interest as July begins.
