Bitcoin ETFs see $90 million outflow on June 18

Spot Bitcoin ETFs saw a significant outflow of funds on 18 June. A total of $90.66 million flowed out of these funds on a net basis, with BlackRock’s IBIT as the biggest loser. Ethereum ETFs also did not escape unscathed: they recorded a net outflow of $12.77 million. All this while the Bitcoin price stands at $62.600. a decline of 2.9% over the past 24 hours.

Bitcoin is available at OKX and Bybit.

BlackRock IBIT Responsible for the Largest Share of Outflows

Of the total net outflow of $90.66 million from spot Bitcoin ETFs, BlackRock’s IBIT accounts for as much as $96.66 million. That means other funds were actually attracting money on balance, but the outflow from IBIT was so large that the overall picture was negative. This is not the first time this week that Bitcoin ETFs have ended in the red: on 18 June there was already an outflow, as shown by earlier reports of an outflow of $82 million led by Fidelity’s FBTC.

The figures come from SoSoValue and show that sentiment around Bitcoin ETFs is currently under pressure. The total net assets of all spot Bitcoin ETFs currently amount to $78.32 billion. The recent outflow trend fits a broader picture in which the Bitcoin price is under pressure and investors are cautious.

Ethereum ETFs Also See Funds Leaving

In addition to Bitcoin, the spot Ethereum ETFs also recorded a net outflow on 18 June. The total stands at $12.77 million, with BlackRock’s ETHA accounting for the entire amount. This means that the outflow was entirely concentrated in this one fund, while other Ethereum ETFs showed no significant movement.

The outflow figures for both Bitcoin and Ethereum ETFs indicate that institutional investors are currently hesitant. Whether this is a temporary dip or the start of a longer period of outflows remains to be seen. Those keeping a close eye on the market know that such movements often correlate with broader macroeconomic developments and the overall mood in the crypto market.