US spot Bitcoin ETFs near $2T in cumulative trading volume

Cumulative trading volume for U.S. spot Bitcoin ETFs is nearing $2 trillion, The Block reported. As of June 11, the total volume stood at $1.99 trillion. With recent daily trading volumes ranging from $2 billion to $5 billion, the products are expected to cross the $2 trillion mark within days. BlackRock's IBIT has dominated the market, accounting for 73.7% of all spot Bitcoin ETF trading volume. In terms of fund flows, the ETFs have seen a total net inflow of $53.9 billion since their launch. This includes $62.2 billion in net inflows for IBIT, offset by over $26.8 billion in net outflows from GBTC. However, the report notes that since Bitcoin reached its all-time high last year, the ETFs have experienced a total net outflow of $7.6 billion. This year alone has seen $3 billion in net outflows. Recently, the funds recorded their longest consecutive net outflow streak since launch, with $4.3 billion withdrawn over 13 straight trading days.