🌎 Spot Bitcoin ETFs in US See $64.9M Outflows, Ending 4-Week Streak

The constant inflows of spot Bitcoin (BTC) exchange-traded funds (ETFs) in the U.S. have come to an end after four weeks.

According to data provided by Farside Investors, spot BTC ETFs in the U.S. recorded $64.9 million in net outflows on June 10, ending their four-week winning streak. The majority of the outflows belong to Grayscale Bitcoin Trust (GBTC), which registered $39.5 million in outflows.

The Invesco Galaxy Bitcoin ETF (BTCO), Valkyrie Bitcoin Fund (BRRR), and Fidelity Wise Origin Bitcoin Fund (FBTC) each saw $20.5 million, $15.8 million, and $3 million in outflows, respectively.

On the other hand, only Bitwise Bitcoin ETF (BITB) and iShares Bitcoin Trust (IBIT) recorded inflows of $7.6 million and $6.3 million, respectively.

It’s important to note that the total net inflows of spot BTC ETFs in the U.S. have surpassed the $15.6 billion mark, thanks to the four weeks of constant inflows, which recorded over $4 billion in net inflows between May 13 and June 7.

The bearish sentiment comes as investors take a cautious approach ahead of the U.S. CPI data release, scheduled for June 12. Last month, the CPI came at 3.4%, as expected, which eventually brought market-wide bullish sentiment.

Consequently, the global crypto market capitalization declined by 2.8% in the past 24 hours and is hovering at $2.59 trillion, according to data from CoinGecko.

Bitcoin plunged to $67,600, and Ethereum (ETH) is closing down to the $3,500 mark. At this point, 94 of the leading 100 cryptocurrencies are in the red zone.