US Bitcoin spot ETFs kicked off June with heavy redemptions, extending a bearish streak that intensified in May as investors pulled back amid rising macroeconomic uncertainty.
Data from SoSoValue shows the suite of Bitcoin spot ETFs recorded roughly $1.72 billion in net outflows between June 1–5 as prices slid to about $60,000. That follows May’s painful run of withdrawals—$2.43 billion in net outflows—signaling continued institutional caution. Over the past 15 trading sessions the funds saw just one day of positive flows (a modest $3.05 million on June 4), underlining the dominant selling pressure among large investors.
Fund-level movers
- BlackRock’s IBIT bore the brunt of the selling, with $1.34 billion in net redemptions for the week.
- Fidelity’s FBTC saw $201.92 million pulled.
- Grayscale’s GBTC lost $144.36 million.
- Smaller, but notable outflows hit Invesco’s BTCO ($12.65 million), Bitwise’s BITB ($15.57 million), and ArkInvest/21Shares ($49.71 million).
- Grayscale’s BTC, Valkyrie’s BRRR, WisdomTree’s BTCW, and Hashdex’s DEFI registered no net flows over the period.
- Only two funds attracted fresh capital: VanEck’s HODL added $4.22 million and MSBT took in $35.05 million.
Broader picture
Despite the recent withdrawals, cumulative net inflows into Bitcoin spot ETFs since launch remain large at $53.94 billion. Total net assets across Bitcoin spot ETFs sit at $75.12 billion, though that figure dropped 20.19% in the last week as NAVs declined with the market.
Ethereum spot ETFs also felt the chill. Collectively they logged about $168 million in outflows last week, pushing combined net assets down from $11.78 billion to $9.78 billion.
Market context
Institutional investors appear to be de-risking as macro uncertainty ramps up—pressure that’s reflected in both fund flows and price action. At press time Bitcoin traded at $61,592, up roughly 2% over the prior 24 hours after the week’s dip; Ethereum was changing hands near $1,612 after bouncing from a cycle low near $1,500.
Takeaway
The data points to a cautious institutional cohort: despite massive cumulative inflows since ETF launches, recent weeks show a clear rotation out of crypto ETFs as macro volatility and price weakness prompt fresh redemptions. Expect flows to remain sensitive to macro headlines and short-term price moves.
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