Bitcoin ETFs bleed $90.66M as BlackRock IBIT leads redemptions

Spot Bitcoin ETFs posted $90.66 million in net outflows on June 18, with BlackRock's IBIT alone accounting for $96.66 million in redemptions — the sixth consecutive week of withdrawals from the US-listed fund complex.

Bitcoin ETFs recorded $90.66 million in net outflows on June 18, extending a six-week streak of withdrawals as BlackRock's iShares Bitcoin Trust led redemptions with $96.66 million, according to SoSoValue data.

The outflow from IBIT — the largest among all spot BTC ETFs for the session — was partially offset by Morgan Stanley's MSBT, which posted the day's biggest single-day inflow at $10.43 million, bringing its cumulative net inflow to $301 million since its April launch. The broader fund complex has now seen net withdrawals for six straight weeks, with the pace of redemptions slowing from prior weeks but remaining negative, per SoSoValue.

The sustained ETF outflows coincided with a broader de-risking across crypto markets. Bitcoin traded at $62,849 as of 14:30 UTC, down 1.83% in the past 24 hours, while Ethereum fell 2.01% to $1,699. Total crypto liquidations reached $298 million over the same period, with BTC and ETH accounting for $136.83 million and $109.60 million, respectively, according to Coinglass data.

The selling pressure follows a hawkish shift from the Federal Reserve, which held rates at 5.25% to 5.50% on June 17 while signaling that nine of 19 FOMC members now expect at least one rate hike before year-end as inflation remains above the 2% target. Higher rate expectations strengthened the US dollar and pushed Treasury yields up, reducing demand for speculative assets. Separately, the collapse of US-Iran peace negotiations added geopolitical uncertainty, further weighing on risk appetite.

Bitcoin's next major support sits at $58,330, with resistance near the 20-day simple moving average at $66,500, according to technical data. The MACD histogram is contracting and the relative strength index is around 35, remaining in bearish territory. Traders are watching for a stabilization in ETF flows as a potential signal that institutional selling pressure is easing.

This article is for informational purposes only and does not constitute investment advice.