Bitcoin ETF sees $64 million outflow, Ethereum ETF attracts $22 million

The US spot Bitcoin ETFs once again showed a negative balance on 15 June. According to data from SoSoValue, $64.09 million flowed out of these funds, while the Ethereum ETFs painted a very different picture with a net inflow of $22.50 million. The Bitcoin price currently stands at $66.475. an increase of 1.2% in the past 24 hours.

Bitcoin is available at OKX and Bybit.

Bitcoin ETFs continue to see outflows

The outflow of $64.09 million from the spot Bitcoin ETFs fits into a broader trend of sustained losses. Earlier this week it was already clear that the funds have seen five consecutive weeks of outflows, with a cumulative loss of more than $316 million. SoSoValue’s chart shows that the total net assets of the Bitcoin ETFs have now fallen to around $83.33 billion, well below the peak of more than $150 billion earlier this year.

Despite the persistent outflows, the Bitcoin price is holding up reasonably well. Traders continue to actively seek support at lower levels, with some analysts targeting a recovery towards $80.000. as previously discussed. Strategy also recently purchased 1,587 Bitcoin for $100 million, showing that institutional buyers are still building their positions despite the ETF outflows.

Ethereum ETFs attract inflows

While Bitcoin ETF investors are reducing their positions, investors are opting for inflows into the spot Ethereum ETFs. On 15 June, $22.50 million flowed in, creating a clear contrast with the picture for Bitcoin. This suggests that some investors are shifting their interest towards Ethereum as an alternative within the ETF market.

Whether this divergence will persist remains to be seen. The market is reacting to a range of factors, from geopolitical developments to macroeconomic signals. For instance, the recent Iran deal also plays a role in the broader sentiment around Bitcoin and crypto. For now, the chart shows that the monthly net inflow for Bitcoin ETFs is negative in June, while Ethereum is giving positive signals.