Bitcoin spot exchange-traded funds (ETFs) sustained their downward momentum into the first week of June, with investors pulling approximately $1.72 billion from these funds. This marks a continuation of persistent capital outflows following May’s challenging period, which saw even larger withdrawals. The sustained negative flow highlights increasing caution among institutional investors amid volatile market conditions and broader economic uncertainty.
Data reveals that over the past 15 trading days, Bitcoin spot ETFs posted only a single day with positive net inflows — a modest $3.05 million on June 4. The majority of the recent outflows were attributed to BlackRock’s IBIT fund, which experienced net redemptions of $1.34 billion. Fidelity’s FBTC and Grayscale’s GBTC also faced significant withdrawals, with losses nearing $202 million and $144 million respectively. Other funds including Invesco’s BTCO, Bitwise’s BITB, and ArkInvest/21Shares recorded smaller yet notable net outflows.
Notably, a few funds bucked the trend by attracting fresh capital; Van Eck’s HODL gained $4.22 million in net inflows, while MSBT saw an increase of $35.05 million. Despite this inflow, the combined net assets for Bitcoin spot ETFs have dropped to approximately $75.12 billion, reflecting a decline of over 20% within just one week. Still, the cumulative inflows into these ETFs remain above $53 billion overall.
Ethereum spot ETFs mirrored Bitcoin’s trend of investor withdrawals, shedding around $168 million over the same period. Their total net assets contracted from $11.78 billion to $9.78 billion, signaling similarly cautious behavior among investors navigating ongoing market turbulence and uncertainty.
At the time of reporting, Bitcoin prices recovered slightly to around $61,592, up modestly following recent lows near $60,000. Ethereum also rebounded to roughly $1,612 after dipping closer to $1,500. These price movements correspond with the volatile sentiment reflected in ETF flows as institutional investors adjust their positions in response to macroeconomic challenges and evolving market dynamics.