Bitcoin ETF Outflows Continue: No Inflows, $152 Million Out

The spot Bitcoin ETF market is experiencing a significant slowdown, with continuous outflows for the past four trading sessions. On Tuesday, June 18, for the first time since the launch of spot Bitcoin ETFs in January 2024, there were no inflows recorded. Instead, outflows totaled $152 million, putting pressure on the Bitcoin price, which is currently around $65,435. Fidelity's FBTC experienced the largest outflows at $83 million, followed by Grayscale's GBTC ETF with $62.3 million. The total assets under management for spot Bitcoin ETFs have dropped to $14.7 billion, with BlackRock and Fidelity holding the largest market shares. The combined Bitcoin holdings by these two companies in their spot Bitcoin ETFs currently stand at 477,121 BTC, valued at $31.4 billion, exceeding those held by MicroStrategy. The recent outflows indicate a lack of investor interest, particularly among registered investment advisors, who are hesitant due to Bitcoin's price volatility, nascent stage, regulatory compliance concerns, and reputation for fraud and scandal. Meanwhile, Australia's spot Bitcoin ETFs have seen minor inflows since their launch last week.