• The 19-day run of net inflows into U.S. listed spot bitcoin exchange traded funds (ETFs), ended Monday with $65 million combined in net outflows.
  • Grayscale’s GBTC, with its $40 million in outflows, continued to be the worst performing ETF by outflows ever since it went live in January.

The 19-day record streak of net inflows into U.S. listed spot bitcoin exchange traded funds (ETFs), ended on Monday, as the products experienced a combined net outflow of $65 million.

Grayscale’s GBTC topped outflows with $40 million. GBTC has continued its infamous streak of being the worst performing ETF in terms of outflows, with a total $18 billion.

Bitcoin ETFs saw net outflows Monday. (SoSoValue)

Invesco’s BITCO and Galaxy Digital BITCO both saw net outflows in the amount of $20 million. Valkyrie’s BRRR ETF saw net outflows totaling $16 million. reported that Fidelity FBTC experienced a net outflow of $3 million, its first since early May.

ETFs reported their last net outflow on 10 May after a month of dismal outflows in April. Since then, inflows have picked up. The products added more than $4 billion over 19 trading days.

These outflows occurred amid a general decline in the cryptocurrency markets and losses on broader stock exchanges. Traders warned on Monday of a volatile coming week, as investors wait for the U.S. CPI to be released on Wednesday and Janet Yellen’s scheduled speech on Friday. This can lead to a reaction among riskier assets like cryptocurrencies.

A two-day Federal Open Market Committee meeting (FOMC) that begins today will also decide the Fed’s monetary policies. This could add further uncertainty to the market based on statements.

Bitcoin is down 2.7% over the last 24 hours. This reverses gains made in the previous week, when it briefly reached a high of $70,000.

CORRECTION: (June 11, 10:00 UTC): Corrects the date of FOMC’s meeting in the penultimate sentence.

Oliver Knight is the editor.