Overview
- The first major post‑FOMC session on June 17 produced about $82 million of net outflows from U.S. spot Bitcoin ETFs while Fidelity’s FBTC and Morgan Stanley’s MSBT recorded inflows, showing a split in issuer demand.
- Flow trackers reported that outflows expanded on June 18 to roughly $102 million across Bitcoin and Ethereum spot products, deepening a multi‑week pattern that has drained billions from ETF assets.
- Analysts and on‑chain commentators flagged large single‑issuer sales, with a reported BlackRock exit of more than 1,000 BTC in one session that added immediate selling pressure in thin markets.
- The link between ETF redemptions and same‑day spot sales is complex because SEC‑approved in‑kind creation and redemption mechanics can avoid cash trades, but large, concentrated outflows still translate into real spot supply when issuers sell.
- Price and structural impact are visible: Bitcoin is testing roughly $60,000 support, total ETF assets have fallen from about $109 billion in May to near $77 billion by mid‑June, and investors may rotate into smaller token or niche ETFs if macro rates stay higher for longer.