Fidelity’s FBTC sees $106 million in outflows, nearly half of the $226 million spot bitcoin ETF outflows on June 13. BlackRock’s IBIT only fund to see net inflows on the day with $18 million. Bitcoin price continues to struggle, down 5.8% this past week.

The US spot Bitcoin exchange-traded fund (ETF) market recorded yet another day of net outflows on June 13, with Fidelity Investments’ FBTC seeing the most outflows on the day.

While BlackRock’s IBIT reported net inflows of $18 million, data by SoSoValue shows the spot ETFs cumulatively recorded net outflows of $226.21 million.

Fidelity’s FBTC slumped to $106 million – the second-largest outflow for the ETF since its trading debut, to account for nearly half of the net outflows. Grayscale recorded net outflows of $62 million for its GBTC ETF, while Ark Invest’s ARKB and Bitwise’s BITB saw $53 million and $9.8 million exit the funds respectively.

VanEck’s fund HODL also saw net outflows, with $11.3 million moving out, while about $2.7 million exited Invesco and Galaxy Digital’s BTCO.

The outflows on June 13 came after Wednesday has seen the US spot Bitcoin ETFs market snap a two-day streak of outflows with $100.8 million worth of inflows. 

Data shows the total net inflows to all US spot Bitcoin ETFs reached $15.5 billion on the day before yesterday’s $206 net outflows pulled it back to about $15.3 billion.

On Wednesday, SEC chair Gary Gensler told lawmakers that he sees the agency finally approving S-1 filings for spot Ethereum ETFs “in the summer.”

Both BTC and ETH prices hovered below key levels amid this news and the spot BTC ETFs outflows.

The price of Bitcoin retreated from highs near $70,000 to about $66,450 and is currently around $66,900 at the time of writing, down 5.9% this past week.

Ethereum price remains around $3,500, down nearly 8% this past week.

The post Fidelity’s FBTC leads as spot Bitcoin ETFs see $226 million in net outflows appeared first on CoinJournal.

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