Bitcoin ETFs Suffer $900 Million in Outflows This Week

U.S.-listed Bitcoin ETFs experienced their fifth straight day of outflows on Thursday, totaling over $900 million in losses for the week. This marks the worst performance since mid-April. Grayscale's GBTC and Fidelity's FBTC led the outflows, while BlackRock's IBIT was the only ETF to record net inflows.

The outflows come amid a period of weak Bitcoin prices, which have been affected by factors such as $1 billion in sales from large holders, dollar strength, and a strong U.S. technology index market. This outflow activity is the worst since late April, when $1.2 billion in net outflows occurred. Inflows had picked up in the following weeks, adding more than $4 billion in the next 19 days before the current outflow trend began on June 10.