Spot Bitcoin exchange-traded funds swung between outflows and inflows this week as traders sized up positions before the Federal Reserve’s interest-rate decision. Monday, June 15 saw net outflows of $64.09 million, driven by Grayscale’s GBTC, which bled $124.01 million. But Tuesday flipped the script: net inflows of $10.2 million, led by BlackRock’s IBIT with $16.35 million coming in.
GBTC Bleeds, IBIT Gains
Grayscale’s fund was the outlier on both days. After Monday’s huge outflow, GBTC saw another $16.81 million leave on Tuesday — the only major product to post a net withdrawal that day. BlackRock’s IBIT absorbed the bulk of Tuesday’s fresh money, suggesting some investors saw the Monday dip as a buying opportunity. The flows are small relative to total AUM, but the direction matters: caution on Monday, a cautious nibble on Tuesday.
Macro Jitters Drive Caution
The timing isn’t a coincidence. Markets are waiting for the Fed’s rate decision and the first formal guidance from Chair Kevin Warsh. The flow data shows investors managing exposure ahead of a macro catalyst, not panicking. If Warsh reinforces a higher-for-longer stance, ETF buyers may stay on the sidelines. A less restrictive tone could spark renewed demand for Bitcoin.
What’s Next
The decision lands this week. Until then, the split flows tell a straightforward story: traders are hedging, not fleeing. The next few days will show whether Tuesday’s inflow was a one-day blip or the start of a trend.
This article was written by the News Desk and edited by Samuel Rae, originally published on Coinglass.
