##  [# Spot Bitcoin ETF Outflows Hit $813M Since June 10](/sections/news/spot-bitcoin-etf-outflows-hit-813m-past-7-days) 

 

# Spot Bitcoin ETF Outflows Hit $813M Since June 10

 

 

Flows to the 11 products have fallen off as bitcoin's price has dropped amid profit taking.



 

 

 

 

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[By James Rubin](/authors/james-rubin)

 Jun 20, 2024

 Edited by: Ron Day

 

 

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Spot bitcoin exchange traded funds have suffered outflows on six of the past seven trading days totaling a net $813 million, according to U.K.-based asset manager Farside Investors—part of a wider sell-off in digital asset investments.

Starting June 10, the [**Grayscale Bitcoin Trust (GBTC)**](/gbtc) and the [**Fidelity Wise Origin Fund (FBTC)**](https://www.etf.com/FBTC) have seen $413 million and $372 million in outflows, respectively, the most of the 11 funds currently trading. The downturn comes as bitcoin has swooned below $65,000 for the first time since early May, according to crypto markets data provider CoinMarketCap.

![](/sites/default/files/inline-images/image_62.png)*Source: etf.com*

In a note to etf.com, Joe DiPasquale, CEO of San Francisco-based crypto fund manager BitBull Capital, noted a "tug of war going on between bulls and bears in bitcoin."

"This week, we are watching sentiment analysis closely as crypto liquidations have become a common phenomenon," he wrote. "We chalk up much of the liquidations this week to be profit-taking as the price consolidates around $65K and sentiment remains cautious."

## IBIT Flows Slow

ETF funds soared over the latter part of May and into early June, drawing in more than $3.3 billion in inflows over a month-long period. FBTC was a big part of that charge.

On June 4, the fund generated $379 million in inflows on a day in which total inflows reached their second highest daily total since they began trading in early January. But since then, flows [have sagged](https://www.etf.com/sections/news/spot-bitcoin-etf-flows-sag-crypto-price-drops) as bitcoin's price dropped, a result of the profit taking and publicly traded miners aiming to improve their balance sheets.

***Read More:*** [***Spot Bitcoin ETF Flows Jump, Hit 2nd Highest Daily Mark***](https://www.etf.com/sections/news/spot-bitcoin-etf-flows-jump-hit-2nd-highest-daily-mark)

Even flows to BlackRock's [**iShares Bitcoin Trust (IBIT)**](https://www.etf.com/IBIT) have slowed with the fund generating only about $40 million in inflows over the past seven days. IBIT has generated more than $17.6 billion in inflows over its five-month lifespan, the most of any of the funds. GBTC has the most assets under management, although it has bled assets on all but a few days, a reflection partly of its segment high fee. The fund is a conversion from a trust.

 
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 [ James Rubin Contributing Editor ](/authors/james-rubin) 

 

 

  James Rubin is a contributing editor for etf.com, where he produces the Morning Exchange and Weekly Exchange newsletters. A longtime financial writer,…   [View Bio](/authors/james-rubin)

 



 

 


 Related Topics  [Bitcoin](http://www.etf.com/topics/bitcoin) 

 [Spot Bitcoin](http://www.etf.com/topics/spot-bitcoin) 

 [Crypto](http://www.etf.com/topics/cryptocurrency)