US Bitcoin ETFs Record $6.4B Monthly Outflow, Largest on Record

US spot Bitcoin ETFs recorded a net outflow of $6.4 billion in the last 30 days, the largest monthly net outflow on record according to Kobeissi Letter, with Wednesday marking the fifth consecutive day of outflows totaling $469 million per Farside Investors data. Cited reasons for the sell-off include the Federal Reserve's hawkish stance, six consecutive weeks of outflows from spot ETFs, decreased liquidity during summer months, and the expiration of quarter-end options on June 30th. The outflows occurred amid a market-wide decline that pushed Bitcoin below $60,000, with Ethereum and major altcoins also experiencing significant pullbacks, while cumulative inflows into spot BTC ETFs over the past 12 months fell to $5 billion from $10 billion recorded in October last year.

BlackRock IBIT and Fidelity FBTC Lead Bitcoin ETF Outflows on Wednesday

BlackRock's IBIT fund led Bitcoin ETF outflows on Wednesday with $239.3 million, followed by Fidelity's FBTC fund with $120.8 million according to Farside Investors. Bitwise's BITB fund saw outflows of $27.5 million, Ark Invest's ARKB fund outflows of $50.7 million, and Grayscale's GBTC fund outflows of $54.3 million. Grayscale's Mini BTC fund was the only fund to experience an inflow of $23.6 million. Morgan Stanley's MSBT, Wisdom Tree's BTCW, VanEck's HODL, Invesco's BTCO, Franklin Templeton's EZBC, and Valkyrie's BRRR fund recorded zero flow.

Fidelity FETH Records Largest Ethereum ETF Outflow

Spot Ethereum ETFs saw net outflows for the fifth consecutive day, resulting in a total net outflow of $30.2 million according to Farside Investors data. Fidelity's FETH fund topped the list with an outflow of $15.7 million, followed by BlackRock's ETHA fund with $8.1 million and Grayscale's Mini Ethereum (ETH) fund with $6.5 million. BlackRock's ETHB, Bitwise's ETHW, 21Shares' TETH, VanEck's ETHV, Invesco's QETH, and Franklin Templeton's EZET funds all recorded zero flows.

XRP ETFs See Inflows While Solana ETFs Record Zero Flow

XRP spot ETFs saw inflows of $2.05 million, while Solana spot ETFs recorded zero inflows.

FAQ

What caused the record outflows from US spot Bitcoin ETFs in the last 30 days?

Cited reasons include the Federal Reserve's hawkish stance, six consecutive weeks of outflows from spot ETFs, decreased liquidity during summer months, and the expiration of quarter-end options on June 30th.

Which Bitcoin ETF funds experienced the largest outflows on Wednesday?

BlackRock's IBIT fund led with $239.3 million in outflows, followed by Fidelity's FBTC fund with $120.8 million, according to Farside Investors data.