Spot Bitcoin ETFs bleed $1.7B as outflow streak hits four weeks
Spot Bitcoin ETFs saw about $1.72 billion in net outflows in the week ending June 5, extending a four-week streak of billion-dollar redemptions that began in mid-May. Most selling came early in the week, with only a brief inflow on Thursday before renewed outflows on Friday. BlackRock’s IBIT absorbed the largest withdrawals at roughly $1.34 billion, followed by Fidelity’s FBTC at $201.9 million and Grayscale’s GBTC at $144.3 million. The weakness appears tied to broader market repricing rather than Bitcoin-specific issues, with higher U.S. job data, rising Treasury yields, lower rate-cut expectations, and geopolitical tensions weighing on risk appetite. Spot Ether ETFs also had a fourth straight week of outflows, losing about $173 million, while some smaller altcoin ETF products continued to attract modest inflows.
