U.S. Spot Bitcoin ETFs Experience Net Outflows of $174 Million

On Monday, U.S. Spot Bitcoin Exchange-traded Funds (ETFs) saw a total daily net outflow of $174.45 million. It was the seventh consecutive day of negative flows.

Top Crypto News Today: U.S. Spot Bitcoin ETFs See Net Outflows, Tether to Halt USDT Minting on 2 Blockchains, Alex Lab Suspects Lazarus in $4M Exploit, Julian Assange Released from Prison, Cuban’s Wallet Sells NFTs After 2-Year Break. Here's a summary curated by CoinChapter.com

U.S. Spot Bitcoin ETFs saw a total daily net outflow of $174.45 million on Monday, according to ETF Flows data. It marks the seventh consecutive day of negative flows into the funds.

Grayscale’s Grayscale Bitcoin Trust (NYSE:GBTC) led the outflows with $90 million, followed by Fidelity’s Fidelity Bitcoin ETF (NYSE:FBTC) at $35 million. Franklin Templeton’s Bitcoin ETF (NYSE:EZBC) reported its first net outflow since May 2, to the tune of $20.8 million.

Other funds also experienced outflows, including VanEck’s Bitcoin Strategy ETF (NYSE:HODL) at $10 million, Bitwise’s Bitcoin Fund (NYSE:BITB) at $8 million, and Ark Invest and 21Shares’ Crypto Industry ETF (NYSE:ARKB) at $7 million.

BlackRock’s iShares Bitcoin ETF (NYSE:IBIT), the largest spot bitcoin ETF by net asset value, recorded zero flows, as did funds from Valkyrie, WisdomTree, and Hashdex. No funds reported net inflows.

Tether has announced it will stop minting its USDT stablecoin on the Eos and Algorand blockchains. The move, set to take effect on June 24, will see Tether halt issuing new USDT on these networks. However, redemptions will continue for the next 12 months.

The decision will have a minimal impact on the overall USDT supply. As of June 22, Eos-based USDT accounted for just 0.06% of the total circulating USDT ($75.5 million out of nearly $113 billion), while Algorand-based USDT represented about 0.01% ($17 million).

Alex Lab, the Bitcoin layer-2 developer, strongly suspects that the $4 million exploit it suffered in May is connected to the North Korean hacking group Lazarus.

In a June 25 post on X, Alex Lab highlighted three wallet addresses used by hackers on May 16 to drain funds from their Bitcoin-based DeFi protocol. The team worked with blockchain investigator ZachXBT to gather evidence that links Lazarus to the exploit.

WikiLeaks founder Julian Assange was released from London’s Belmarsh Prison on Monday after agreeing to a plea deal with U.S. authorities. Assange pleaded guilty to one count of conspiracy to obtain and disclose U.S. national defense information. He is set to be sentenced to time served (5 years and 3 months) at a hearing scheduled for June 25 at 11:00 pm UTC.

WikiLeaks announced that Assange was granted bail and left the UK on Monday, heading back to his native Australia. A crypto wallet linked to billionaire Marc Cuban, using the ENS domain “markcuban.eth,” began selling non-fungible tokens (NFTs) on June 23. The move comes after nearly two years of inactivity from the wallet.

Over two days, the wallet sold 14 NFTs for a total value of $38,533, according to X. Among the sales was a Pudgy Penguin NFT for $30,578.

Cuban has also listed two high-value NFTs for sale: a Hashtag NFT for 15 ETH (over $50,000) and a BibleNFT piece for 5 ETH (around $16,000). If sold, these would push the total value of NFTs sold from the wallet to over $100,000 in recent days.