Significant ETF Outflows on June 17
On June 17, Bitcoin (BTC) exchange-traded funds (ETFs) experienced notable outflows amounting to $145.9 million, as reported by Farside data. This day marked the third consecutive trading day of outflows and the fifth instance of outflows in the past six trading days.
Major Players in ETF Outflows
The largest outflow was seen in Fidelity’s FBTC, which had a reduction of $92.0 million, adjusting its total net inflow to $9.3 billion. Ark’s ARKB followed with a $50.0 million outflow, bringing its total net inflow down to $2.4 billion. Grayscale’s GBTC had a smaller outflow of $3.0 million, resulting in total net outflows of $18.2 billion. On the other hand, BlackRock’s IBIT remained stable with no inflows or outflows, keeping its total net inflow at $17.6 billion. Overall, the total net inflows for BTC ETFs now stand at $15 billion.
Market Context and Bitcoin Price Movement
This trend of outflows aligns with Bitcoin’s price drop to $64,600, the lowest point since May 16. This price represents a decline of over 11% from its all-time high. Despite the outflows, Bitcoin’s market dominance has been increasing, reaching 56.2%, marking the second-highest level of the year.
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