Bitcoin ETF Outflows Continue for Fifth Consecutive Day with $19 Million Loss

Spot Bitcoin ETFs continue to lose money. On 11 June, the total net outflow stood at $19.03 million, marking the fifth consecutive day of negative flows. Ethereum ETFs are not immune either, seeing $15.89 million flow out, the third straight day of outflows. The Bitcoin price currently stands at $63.240. a slight increase of 0.8% over the past 24 hours.

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Five Days of Outflows for Bitcoin ETFs

The outflow from Bitcoin ETFs continues unabated. While investors previously piled in, they are now choosing to withdraw funds. With a net outflow of $19.03 million on 11 June, the tally now stands at five consecutive days in the red. That is a notable reversal from the inflow streaks we saw earlier.

Trading volume and inflows into Bitcoin ETFs have been under pressure for some time. We previously reported that trading volume for Bitcoin ETFs fell by 78% from its peak. The total net assets of all spot Bitcoin ETFs combined currently stand at $79.50 billion, according to data from SoSoValue.

Ethereum ETFs Also Suffer Outflows

Bitcoin ETFs are not the only ones in troubled waters. Spot Ethereum ETFs also show a negative picture, with $15.89 million in outflows on 11 June. That is the third consecutive day that investors have withdrawn more money than they deposited. This comes even as interest in Ethereum is rising in other areas, open interest for Ethereum on Binance recently hit an all-time high.

The persistent outflows from both Bitcoin and Ethereum ETFs point to caution among institutional investors. The Bitcoin price is meanwhile holding up relatively well around the $63.000 mark, but analysts are keeping a close eye on the situation as the support zone comes under pressure.