Investor outflows from US-based spot Bitcoin and spot Ethereum ETFs continue unabated. On June 2nd, a net outflow of $519.23 million was recorded from US spot Bitcoin ETFs. This marked the 12th consecutive day of net outflows from Bitcoin ETFs.
According to the data, the total capital withdrawn from spot Bitcoin ETFs in the last 12 days has reached approximately $3.98 billion. The largest outflow was seen in the IBIT fund, managed by BlackRock, with $388.68 million.
Grayscale Investments GBTC fund followed with an outflow of $83.51 million, and Fidelity Investments FBTC fund with an outflow of $45.14 million. Additionally, ARK Invest ARKB fund experienced an outflow of $16.67 million, while Morgan Stanley’s MSBT fund stood out with a net inflow of $14.77 million.
On the other hand, a similar picture is observed in spot Ethereum ETFs. Ethereum ETFs traded in the US saw a total net outflow of $90.14 million on June 2nd. This development revealed that investors have been withdrawing funds from Ethereum ETFs for the 16th consecutive trading day.
The largest outflow on the Ethereum side occurred in BlackRock’s ETHA fund, totaling $44.27 million. Grayscale’s Mini ETH fund saw a $25.41 million outflow, Fidelity’s FETH fund a $15.63 million outflow, and Grayscale’s ETHE fund a $3.87 million outflow. BlackRock’s staking-focused ETHB fund also recorded a net outflow of approximately $960,000.
Experts note that the ongoing capital outflows from ETFs reflect a decline in investors’ short-term risk appetite, and that the cryptocurrency markets will continue to be shaped by macroeconomic developments and institutional investor behavior in the coming period.
This is not investment advice.
Continue Reading: US Spot Bitcoin and Ethereum ETF Outflows Deepen! Here’s All the Data
