The US spot Bitcoin ETF market suffered its worst week on record, with combined net outflows reaching $1.72 billion during the first trading week of June. This marked the fourth consecutive week of redemptions, pushing cumulative net inflows down from $59.34 billion to $53.94 billion—a decline of over $5.4 billion in just four weeks.
According to SoSoValue data, the bleeding was almost uninterrupted: out of the last 15 trading sessions only a single day (June 4) saw modest net inflows of $3.05 million. The other 14 days all closed with net withdrawals, culminating in a $519 million outflow on June 2 alone.
BlackRock’s IBIT bore the brunt, shedding $1.34 billion, followed by Fidelity’s FBTC ($201.92 million) and Grayscale’s GBTC ($144.36 million). Other funds like Invesco, Bitwise and ArkInvest also saw noticeable outflows. Only VanEck’s HODL and MSBT attracted fresh capital, adding $4.22 million and $35.05 million respectively.
Bitcoin’s price mirrored the exodus, collapsing from around $73,000 at the start of the week to $59,100—its lowest since just before the 2024 US presidential election. The $60,000 support, which held during previous corrections, finally broke on Friday. The sell-off was not isolated to crypto; it coincided with a broader market slump triggered by a US jobs report that spooked investors across asset classes.
Ethereum spot ETFs also faced heavy redemptions, losing $168 million in the same period, as total net assets in ETH products dropped from $11.78 billion to $9.78 billion. Both Bitcoin and Ethereum were trading slightly higher on Saturday, but remain near cycle lows.
