Bitcoin Spot ETFs Bleed $82M as Fidelity's FBTC Defies Trend

US spot Bitcoin ETFs experienced significant outflows of $82.2 million on June 17, as Ethereum spot ETFs posted net outflows of $29.37 million on the same day.

This marks a continuation of a rough stretch for these products, which were expected to bring mainstream institutional adoption to crypto markets.

Fidelity's FBTC stood out from the rest, attracting $14 million in inflows and making it the only significant bright spot in an otherwise dreary session.

The numbers behind the sell-off are telling: Bitcoin ETFs saw approximately $91 million in outflows around June 8, with a cumulative redemptions exceeding $4.4 billion over a 13-day period from May 23 to June 5.