The spot Bitcoin ETF market is facing a significant downturn, marked by consistent outflows over the past four trading sessions. In a first since their launch in January 2024, not a single spot Bitcoin ETF recorded any inflows on Tuesday, June 18, resulting in total outflows of $152 million. This lack of investor interest has put pressure on Bitcoin's price, currently trading at $65,435.

The spot Bitcoin ETFs have been losing steam, with Tuesday's outflows totaling $152 million. Fidelity's FBTC experienced the highest outflows at $83 million, followed by Grayscale's GBTC ETF with outflows of $62.3 million. This marks the fourth consecutive day of negative outflows from Bitcoin ETFs, indicating a strong trend of investor withdrawal.

As a result of these outflows, the total assets under management for spot Bitcoin ETFs have dropped to $14.7 billion. BlackRock and Fidelity, the top two players, hold a significant market share, with combined Bitcoin holdings of 477,121 BTC, valued at $31.4 billion. This is 262,721 more than MicroStrategy's holdings.

According to BlackRock's Chief Investment Officer, Samara Cohen, self-directed investors have driven nearly 80% of Bitcoin ETF purchases. However, registered investment advisors have been more cautious due to concerns over Bitcoin's price volatility, regulatory compliance, and reputation for fraud and scandal. These factors have contributed to the recent outflows and selling pressure on Bitcoin's price.

In conclusion, the spot Bitcoin ETF market is experiencing a significant slowdown, with unprecedented outflows and a lack of investor interest. As the market continues to evolve, it remains to be seen how this trend will impact Bitcoin's price and the overall cryptocurrency market.