Bitcoin ETF Fund Withdrawals hit a significant number

Bitcoin ETF Fund Withdrawals hit a significant number

Bitcoin ETF fund withdrawals hit a significant number. On June 10, eleven spot Bitcoin investment funds in the US experienced a substantial net outflow of $64.93 million, marking the end of a remarkable 19-day inflow streak.

Bitcoin ETF Fund withdrawals

The longest-ever period of continuous inflows, which concluded on May 7, had amassed over $4 billion. Since their inception in January, these funds have recorded a total net inflow of $15.62 billion. Grayscale’s GBTC fund led the outflows, with a significant withdrawal of $40 million this week.

According to SosoValue data, other major funds, such as Invesco and Galaxy Digital’s BTCO, also faced net outflows totaling $20 million. Valkyrie’s Bitcoin ETF fund reported a net outflow of $16 million, while Fidelity’s FBTC fund saw a $3 million outflow, its first negative flow since May 2.

Interestingly, not all funds experienced outflows. BlackRock’s IBIT fund, the largest spot Bitcoin ETF by net assets, recorded a net inflow of $6 million. Similarly, Bitwise’s BITB fund saw an inflow of $8 million, indicating some positive investor sentiment amidst the broader trend of withdrawals.

Market Reactions and Economic Indicators

The decline in Bitcoin’s price on May 7 followed the release of US non-farm payroll and unemployment data, which presented mixed signals about the US economy. This uncertainty prompted investors to retreat from riskier assets, including cryptocurrencies, as noted by crypto trading firm QCP Capital.

Looking ahead, markets are keenly awaiting the upcoming release of the US Consumer Price Index (CPI), a critical measure of inflation, as well as the Federal Open Market Committee (FOMC) meeting scheduled for the end of this week.

According to CME Group, there is a 99.4% probability that the Federal Reserve will maintain current interest rates between 5.25% and 5.50%. Furthermore, a Reuters poll of economists suggests the Fed might cut rates twice starting in September.

Regulatory Developments

US ETF issuers are also awaiting feedback from the Securities and Exchange Commission (SEC) regarding the S-1 registration statements they submitted late last month. These S-1 forms need SEC approval for the official launch of spot Ethereum funds, a development that could further impact market dynamics.

Despite the outflows, BlackRock’s IBIT and Bitwise’s BITB funds recorded net inflows of $6 million and $8 million, respectively. Overall, the recent outflows from Bitcoin ETFs reflect broader market uncertainties and investor caution in the face of conflicting economic indicators and pending regulatory feedback.


To conclude, the recent significant Bitcoin ETF fund withdrawals highlight ongoing market uncertainties and investor caution amid conflicting economic indicators and pending regulatory developments. While the inflow streak has ended, selective funds like BlackRock’s IBIT and Bitwise’s BITB still demonstrate positive investor sentiment, suggesting a complex and evolving market space.

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