In recent weeks, the spot ETFs of Bitcoin ($BTC) have been receiving significant inflows. Nonetheless, according to a prominent on-chain statistics provider SpotOnChain, the ETFs experienced a huge outflow of up to $64.9318 million yesterday. This took place after 19-day consecutive inflows. The on-chain analytics platform took to the social media platform X to provide details about the individual exchange-traded funds.
BTC Spot ETFs Go Through Hefty Outflow Following Inflows for Consecutive 19 Days
The platform noted that the net inflows on the [ccpw id=60415] spot ETFs witnessed $65M in inflows on June 10. The net inflow became negative following maintaining positivity for nineteen consecutive days. As per the reports, the respective event took place as the initial incident of outflows following nineteen days. The famous exchange-traded fund Grayscale ETF (GBTC) in this respect went through substantial outflows within a single day.
GBTC Experiences $39.5366M in Outflows
In line with the statistics that Spot On Chain provided, Grayscale saw an outflow of up to $39.5366 million. The outflow of such a huge amount raises the eyebrows of the market onlookers. In this way, the exchange-traded fund took the 1st position among the others in terms of outflows. On the other hand, another ETF ‘BITB’ of Bitwise also recorded inflows of up to $7.5910M.
Because of the enormous ETF outflows, a well-known exchange-traded fund ‘IBIT’ of BlackRock also witnessed a massive impact. SpotOnChain brought to the front that the BlackRock ETF’s single-day inflow went through a dramatic plunge. Hence, IBIT’s inflow declined to just $6.3 million. Formerly, the ETF was enjoying $168 million in inflows. Following this development, the price market price of the Grayscale ETF has touched $61.73. On the other hand, the BlackRock and Bitwise ETFs have reached market prices of $39.59 and $37.87 respectively.
