Grayscale's GBTC dominated the wave of outflows from US spot Bitcoin ETFs, which recorded a total net outflow of $174.45 million on Monday. GBTC alone accounted for $90 million of outflows.📉😮

BlackRock's IBIT recorded no flows, as did spot Bitcoin ETFs from Valkyrie, WisdomTree and Hashdex. No funds recorded inflows.

Following Grayscale, Fidelity's FBTC and Franklin Templeton's EZBC saw net outflows of $35 million and $21 million, respectively, on June 24. Then, VanEck's HODL saw an exit of $10 million in the same period, while Bitwise's BITB recorded $8 million.

GBTC has seen $18 billion in outflows since its conversion in mid-January. However, other ETFs have managed to attract large numbers of funds. IBIT is the clear leader, attracting $18 billion in inflows in the last six months.

Bitcoin has been under great pressure lately and is currently hovering around $61.2k. This level is critical because experts believe that a decline could further intensify the outflows.

More than $14 billion has flowed into spot Bitcoin ETFs since January 11, said Jim Bianco, President and Founder of Bianco Research. Bianco suggested that investors are not currently taking profits and expect further outflows if BTC remains below $60.5k.

Do you think the outflows will continue? We are waiting your comments! 💭👇