US spot Bitcoin ETFs post $696 million outflow
June 25 withdrawals accelerated as Bitcoin fell below $60,000; Fidelity's FBTC led redemptions, while Morgan Stanley's MSBT was the top inflow, according to SoSoValue.
US spot Bitcoin ETFs recorded about $696 million in net outflows on June 25, extending the previous session's pullback as Bitcoin fell below $60,000. Fidelity's FBTC posted the largest withdrawal at $274 million, while Morgan Stanley's MSBT led inflows with $9.1679 million, according to SoSoValue. The data provider said total net assets stood at $72.573 billion and cumulative historical net inflows reached $52.050 billion. The newer report also said the outflows totaled $696.3 million and pushed year-to-date losses to $4.6 billion, underscoring continued investor retrenchment during price weakness.
- spot Bitcoin ETFs: Exchange-traded funds designed to track Bitcoin's spot price rather than futures contracts.
- net outflows: A measure showing that more money was withdrawn from a fund than invested over a given period.
- redemptions: Investor withdrawals from a fund, often requiring shares to be canceled and assets sold or delivered.