The Spot Bitcoin ETF market is navigating through some choppy waters. According to recent data from SoSoValue (as reported by Odaily), the trend observed during the week of June 8 to 12 confirms a clear disinterest from institutional investors.
Weekly recap in numbers
For the fifth consecutive week, Spot Bitcoin ETFs are facing net outflows, totaling $316 million in withdrawals over the period.
Who are the movers and shakers?
The dip from IBIT (BlackRock): Contrary to its usual performance, the giant BlackRock saw the largest outflows of the week, with $355 million in redemptions. Despite this, its historical net inflows remain impressive, standing at $62.11 billion.
GBTC (Grayscale) remains in the red zone: The fund continues to purge its positions with $87.9 million in weekly outflows, now totaling $26.85 billion in withdrawals since its inception.
Fidelity's resistance (FBTC): In this gloomy context, only FBTC is making a mark by recording the strongest inflows of the week, capturing $55.7 million. Its total net inflows now reach $10.45 billion.
Key takeaways
This series of weekly outflows shows a consolidation phase and some caution from investors regarding ETFs. We'll have to see if Fidelity can turn the tide or if the ETF market will continue to face this selling pressure in the coming days.
#BTC #Crypto #ETF #bitcoin #Finance
