US Bitcoin ETFs continue to record significant outflows for seven straight days, as the price of Bitcoin (BTC) continues to fall to new record lows.
Yesterday, Monday, June 24, total outflows from all nine spot Bitcoin ETFs reached $174.5 billion, with no inflows recorded.
A significant decline in Bitcoin ETFs:
After $545 million in outflows, Bitcoin ETFs continue to bleed at the start of this week.
The Grayscale Bitcoin ETF (GBTC) recorded its largest outflow of $90.4 million on Monday, bringing the total outflows from GBTC since its inception to nearly $18.5 billion.
Fidelity's FBTC fund also took a big hit with outflows of $35 million on Monday, and outflows have continued since mid-June, dragging assets under management down to less than $10 billion.
While most other Bitcoin ETFs have seen outflows, BlackRock’s IBIT has not recorded any outflows since its inception, although there have been several periods of no inflows recently.
