Key Points
- Bitcoin ETFs recorded $226 million outflows on June 13.
- BlackRock’s Bitcoin ETF, IBIT, was the only one seeing inflows, totaling $18 million.
According to the latest reports coming from SoSoValue, Bitcoin ETFs recorded $226 million in outflows on June 13. Fidelity’s FBTC fund recorded its second-largest net outflow day since its inception.
BlackRock’s Bitcoin ETF, IBIT, was the only crypto product that saw inflows, totaling $18 million.
Here are the outflows that the other Bitcoin ETFs recorded yesterday:
- Grayscale’s Bitcoin ETF, GBTC recorded $62 million in outflows.
- Fidelity’s Bitcoin ETF, FBTC, recorded $106 million in outflows.
- Ark Invest and 21Shares’ Bitcoin ETF, ARKB, recorded $53 million in outflows.
- Bitwise’s Bitcoin ETF, BITB, recorded $10 million in outflows.
- Invesco and Galaxy Digital’s Bitcoin ETF, BTCO, recorded $3 million in outflows.
- VanEck’s Bitcoin ETF, HODL, recorded $11 million in outflows.
The other Bitcoin ETFs did not record any inflows or outflows yesterday.
The total net asset value of the Bitcoin ETFs was $58.5 billion, SoSoValue data reveals.
Bitcoin is trading near $67,000
At the moment of writing this article, BTC is trading near the important level of $67,000.
- Zoom
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The price of BTC has seen a correction amidst a recent unexpected miner capitulation event that has been addressed by Bitcoin on-chain analyst Willy Woo.
He noted via a post on X that this event is stemming from Bitcoin halving which took place on April 20 and is currently culling weak miners.
He also noted that as they die, they dump BTC, but the price of the coin will rebound afterwards.
According to the latest reports coming from Julio Moreno, Head of Research at CryptoQuant, June 11 marked the largest daily selling volume of Bitcoin miners since late March.
However, Bitcoin remains surrounded by optimistic predictions especially after the coin was able to consolidate under previous ATHs for over 90 days.
Bitcoin has been in a consolidation phase since it hit its ATH of almost $74,000 on March 13. Consolidation periods are times when BTC’s trading volume and volatility are lower than usual. Such phases are usually followed by price surges.
