Third straight trading day of Bitcoin ETF outflows: $145.9M pulled

[ad_1]

Fast Take

Farside knowledge exhibits that on June 17, Bitcoin (BTC) exchange-traded funds (ETFs) skilled one other day of serious outflows, totaling $145.9 million. This marks the third consecutive buying and selling day of outflows and the fifth outflow prior to now six buying and selling days.

The most important outflow was from Constancy’s FBTC, which noticed a $92.0 million discount, bringing its whole web influx to $9.3 billion. Ark’s ARKB adopted with a $50.0 million outflow, decreasing its whole web influx to $2.4 billion. Grayscale’s GBTC skilled a smaller outflow of $3.0 million, pushing its whole web outflows to $18.2 billion. In distinction, BlackRock’s IBIT recorded no inflows or outflows, sustaining its whole web influx at $17.6 billion. Total, the entire web inflows for BTC ETFs now stand at $15 billion.

Bitcoin ETF Flow Table: (Source: Farside) — Bitcoin ETF Circulate Desk: (Supply: Farside)

This development coincides with Bitcoin’s worth drop to $64,600, its lowest since Might 16, reflecting a greater than 11% decline from its all-time excessive. Whereas Bitcoin’s dominance continues to climb, reaching 56.2%, it marks the second-highest stage of the yr.

BTC Dominance: (Source: TradingView) — BTC Dominance: (Supply: TradingView)

Disclaimer: Our writers’ opinions are solely their very own and don’t replicate the opinion of CryptoSlate. Not one of the info you learn on CryptoSlate must be taken as funding recommendation, nor does CryptoSlate endorse any venture which may be talked about or linked to on this article. Shopping for and buying and selling cryptocurrencies must be thought-about a high-risk exercise. Please do your individual due diligence earlier than taking any motion associated to content material inside this text. Lastly, CryptoSlate takes no duty must you lose cash buying and selling cryptocurrencies.

[ad_2]

Source link