The beginning of the week saw a continuation of outflows from spot Bitcoin (BTC) exchange-traded funds (ETFs), causing the total net inflows of these investment products in the U.S. to drop below $15 billion.
Data from Farside Investors revealed that spot Bitcoin ETFs experienced a net outflow of $145.9 million on Jun. 17. The majority of these outflows were attributed to the Fidelity Wise Origin Bitcoin Fund (FBTC) and ARK 21Shares Bitcoin ETF (ARKB), with $92 million and $50 million leaving the funds, respectively.
Additionally, the VanEck Bitcoin Trust (HODL) and Grayscale Bitcoin Trust (GBTC) also saw smaller outflows of $3.8 million and $3 million, respectively.
Despite the overall bearish market sentiment and consistent outflows, the Bitwise Bitcoin ETF (BITB) managed to attract $2.9 million in inflows on Jun. 17, as reported by Farside Investors. The rest of the ETFs remained stable.
Last week alone, spot Bitcoin ETFs saw a total net outflow of $580.6 million. This significant outflow followed four weeks of consecutive net inflows, totaling around $4 billion.
The recent series of outflows has brought the total net inflows in spot BTC ETFs to $14.96 billion, according to data from Farside Investors.
These outflows coincide with a broader sense of fear, doubt, and uncertainty (FUD) in the crypto market, as the price of BTC dipped below $66,000. The global cryptocurrency market capitalization decreased by 2.6% over the past day, currently standing at $2.485 trillion.
In other news, Bybit card users now have the option to fund transactions using Apple Pay.