U.S. spot Bitcoin ETFs saw net outflows of $65 million on June 10, bringing an end to a 19-day streak of inflows.
Per data from Farside Investors, the last day to see net outflows across all U.S. spot Bitcoin ETFs was May 10, when investors pulled out $84.7 million from the investment products.
Grayscale’s GBTC ETF saw net outflows of almost $40 million on June 10, with its outflows now exceeding $113 million across three consecutive days of outflows.
BlackRock’s IBIT ETF also saw a sharp decline, with inflows dropping to a mere $6.3 million on June 10, versus inflows of $168.3 million on June 7, the previous day of trading.
Invesco and Galaxy Digital’s BTCO ETF and Valkyrie Digital Assets’ BRRR ETF both saw outflows of $20.5 million and $15.8 million, respectively, on June 10.
These outflows stand in stark contrast to the strong inflows witnessed last week, where BlackRock’s IBIT ETF and Fidelity’s FBTC together saw inflows of over $1.6 billion, placing them in the top 10 ETFs across all categories to receive inflows, according to analytics platform etf.com.
The outflows came as Bitcoin’s price dipped by over 3% ahead of tomorrow’s FOMC meeting and CPI report.
The leading cryptocurrency dropped by 3.6% over the past 24 hours, to lows of $66,791, according to CoinGecko. Bitcoin has since recovered slightly, to its current price of just under $67,000.
Bitcoin derivatives traders saw liquidations of over $50 million in the past 24 hours, according to data from Coinglass, with longs accounting for $44.34 million of the total.