The U. S. spot Bitcoin exchange-traded fund (ETF) market is a key player in the U. S. The U. S. saw a day of net outflows on June 13, with Fidelity Investments’ FBTC recording peak outflows that day.
While BlackRock’s IBIT reported inflows of $18 million, data from SoSoValue shows that spot ETFs cumulatively saw outflows of $226. 21 million.
Fidelity’s FBTC fell to $106 million, the second-largest outflow for the ETF since its stock market debut, and accounts for nearly a portion of net outflows. Grayscale saw net outflows of $62 million for its GBTC ETF, while Ark Invest’s ARKB and Bitwise’s BITB saw outflows of $53 million and $9. 8 million, respectively.
VanEck’s HODL fund also saw net outflows, with $11. 3 million outflowing, while around $2. 7 million exiting Invesco and Galaxy Digital’s BTCO.
The June 13 launches came after the U. S. spot Bitcoin ETF market hit the ground running. Wednesday’s U. S. record a two-day streak of departures with inflows of $100. 8 million.
Knowledge shows that total inflows to all spot Bitcoin ETFs in the U. S. are at a global level. While the U. S. reached $15. 5 billion the day before, yesterday’s outflows of $206 reduced it to about $15. 3 billion.
On Wednesday, SEC Chairman Gary Gensler told lawmakers that he sees the firm finally approving S-1 filings for Ethereum spot ETFs “over the summer. “
BTC and ETH prices have remained at key levels amid this news and the one-off outflows of BTC ETFs.
Bitcoin’s value has risen from a high near $70,000 to around $66,450 and lately stands around $66,900 at the time of writing, down 5. 9% last week.
Ethereum’s value remains around $3,500, a drop of nearly 8% in the past week.
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