Spot Bitcoin (BTC) exchange-traded funds (ETFs) in the U.S. have started their third week of outflows, as BTC prices dip below $60,000. On June 24, spot BTC ETF outflows hit $174.5 million, led by the Grayscale Bitcoin Trust (GBTC) with $90.4 million in outflows.
Other ETFs, including the Fidelity Wise Origin Bitcoin Fund (FBTC) and the Franklin Bitcoin ETF (EZBC), also saw significant negative net flows, further contributing to the bearish trend. Notably, this is the first time since June 11 that all these products experienced outflows simultaneously.
This downturn coincides with Bitcoin’s struggle against bearish market pressure, despite a mild recovery effort with BTC trading at $60,772. On June 24, BTC briefly dipped to a one-month low of $58,402.
The sustained outflows and price fluctuations highlight ongoing market uncertainty. This trend underscores the importance of closely monitoring Bitcoin’s performance and ETF market dynamics.
