US BTC Spot ETFs Witness $200M in Outflows With Zero Inflows on June 11

BTC spot ETFs in the United States again go through huge outflows. As per SpotOnChain (a prominent on-chain analytics provider), the Bitcoin ETFs have gone through outflows of up to $200 million on the 11th of June. The analytics platform disclosed this development on its official account on X.

🚨 $BTC #ETF Net Inflow June 11, 2024: -$200M!• No US Bitcoin ETFs experienced inflows yesterday ⚠️.• #Grayscale (GBTC) increased its single-day outflow from $39.5M to $121M (3x).• #BlackRock (IBIT) experienced a net flow of $0.• Overall, the net inflow has been… pic.twitter.com/RlmtGrPGYG

— Spot On Chain (@spotonchain) June 12, 2024

US BTC Spot ETFs Incur Outflows of $200M Worth with Zero Inflows

The reports, point out that June 11 turned into the 2nd consecutive day in terms of ETF outflows. In addition to this, the analytics firm also provided details of the individual exchange-traded funds in its latest X post. The platform pointed out that a significant increase took place in the outflows that the well-known ETF of Grayscale. According to SpotOnChain, the exchange-traded fund went through a 3-time upsurge in the single-day outflows.

In this respect, the GBTC ETF saw enormous outflows of up to $121 million. Formerly, the outflows of the ETF stood at just $39.5 million. This huge jump in outflows turns GBTC into the top ETF in this case. On the other hand, BlackRock has shown a neutral position concerning flows. Hence, the well-known exchange-traded fund IBIT did not experience any inflows or outflows.

The Total Asset Value of the Spot BTC ETFs Dips Below $60 Billion

Contrarily, the Fidelity BTC ETF also incurred outflows. In line with the statistics that SpotOnChain provided, FBTC experienced 7.4 million worth of outflows. The chart shared by the on-chain analytics forum also revealed the data concerning the Bitwise Bitcoin ETF.

The BITB ETF reportedly went through the outflows of nearly 11.7 million worth. Spot On Chain also brought to the front that the BTC spot ETFs’ cumulative asset value plunged below the $60B mark. At present this figure stands at $59.227 billion.