US spot Bitcoin ETFs hemorrhaged $82.2 million on June 17, continuing a rough stretch for the products that were supposed to be crypto’s gateway to mainstream institutional adoption. Ethereum spot ETFs didn’t fare much better, posting $29.37 million in net outflows on the same day.
But one fund stood out from the wreckage. Fidelity’s FBTC attracted $14 million in inflows, making it the only significant bright spot in an otherwise dreary session for digital asset investment vehicles.
The numbers behind the sell-off
Around June 8, Bitcoin ETFs saw approximately $91 million in outflows. Bitcoin ETFs recently endured a 13-day outflow streak that didn’t end until June 5. During that stretch, cumulative redemptions exceeded $4.4 billion. When the bleeding finally stopped, the net inflow that broke the streak was a meager $3.05 million.
BlackRock’s IBIT experienced notable outflows during this period. Fidelity’s FBTC, by contrast, has shown resilience. On June 17, its $14 million inflow was the largest single-day intake among all Bitcoin ETFs.
