Spot Bitcoin ETFs See $1.72B Outflows in Week to June 5
Spot Bitcoin ETFs logged $1.72 billion in net outflows for the week ended June 5, the fourth straight week of billion-dollar redemptions; BlackRock’s IBIT lost about $1.34 billion.
Spot Bitcoin exchange-traded funds recorded $1.72 billion in net outflows in the week ended June 5, marking a fourth consecutive week of billion-dollar redemptions. BlackRock’s iShares Bitcoin Trust (IBIT) accounted for roughly $1.34 billion of the withdrawals.
Data from SoSoValue shows the outflows extend a streak beginning the week ending May 15. Daily figures compiled by Farside Investors indicate losses were concentrated in the first three trading days of June, when the funds fell by $483.8 million, $519.1 million and $396.6 million, respectively. The funds registered a $3.2 million inflow on Thursday before posting $325.7 million of outflows on Friday.
Fidelity’s Wise Origin Bitcoin Fund (FBTC) posted about $201.9 million in net redemptions for the week, while the Grayscale Bitcoin Trust ETF (GBTC) recorded roughly $144.3 million in outflows over the same period.
Spot Ether ETFs also saw net outflows, losing $173.05 million in the week to June 5. Ether funds experienced outflows of $241.45 million the previous week and $215.99 million and $255.11 million in the two weeks before that, totaling about $885.6 million over four weeks.
Other altcoin ETF flows were mixed. HYPE-branded funds reported $16.65 million of inflows in the week, XRP ETFs drew $2.62 million, and Solana ETFs recorded $6.52 million in outflows.
Matthew Pinnock, chief operating officer at Altura DeFi, described the redemptions as ‘a macro-driven repricing of risk.’ He noted large investors tend to adjust exposures using the most liquid products, which helps explain the heavy withdrawals from IBIT. Pinnock linked the timing of the redemptions to stronger U.S. employment data, rising Treasury yields, a reduced probability of rate cuts this year and the ongoing Gulf conflict.
The four-week redemption streak contrasts with the strong inflows that supported spot crypto ETFs earlier in the year. The reported figures are based on SoSoValue and Farside Investors data for the week ended June 5.
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