Crypto ETFs Lose $528M as Bitcoin and Ethereum Outflows Deepen

Key Insights

• Crypto ETFs lost over $528 million on June 1.
• Bitcoin ETFs recorded an 11th straight day of withdrawals.
• Ethereum ETFs extended their outflow streak to 15 sessions.

The crypto ETFs market remained under pressure on June 1 as investors continued pulling capital from both Bitcoin and Ethereum funds. Bitcoin exchange-traded funds posted $483.76 million in net outflows, marking the eleventh consecutive session of withdrawals. Ethereum products followed the same trend and recorded another day of redemptions.

The sustained selling reflected weaker institutional demand after months of strong inflows. While crypto ETFs still hold tens of billions in assets, recent flow data showed investors adopted a more cautious approach toward digital asset exposure.

Bitcoin ETFs Extend Losing Streak to 11 Sessions

The June 1 outflow added to a streak that began on May 15. The funds saw $290.42 million leave on May 15, followed by a heavy $648.64 million withdrawal on May 18.

May 19 brought $331.05 million in outflows, with May 20 adding $70.47 million, May 21 losing $100.82 million, and May 22 recording $105.19 million.

The crypto ETFs selling intensified through the second half of May, with May 26 posting $333.71 million in outflows and May 27 hitting $733.43 million.

May 28 saw $228.88 million leave, with May 29 adding $125.31 million in outflows. The eleven-day stretch has now pulled close to $3.36 billion out of Bitcoin ETFs in total.

Cumulative crypto ETFs net inflow has fallen from $58.34 billion at the close of May 15 to $55.18 billion by June 1.

Total net assets across the Bitcoin ETFs declined to $91.16 billion at the close of June 1, well below the $109 billion peak seen on May 11.

BlackRock’s IBIT Drives the June 1 Crypto ETFs Withdrawal

BlackRock’s iShares Bitcoin Trust (NASDAQ: IBIT) accounted for the bulk of the daily outflow at $440.29 million, equal to 6.16 thousand BTC leaving the fund.

The figure stands as one of the largest single-day withdrawals from the fund since its launch. The fund’s cumulative net inflow still holds at $63.37 billion.

Fidelity (CBOE: FBTC) recorded $37.29 million in outflows on the day, with Ark & 21Shares (CBOE: ARKB) losing $12.32 million. The three funds with withdrawals accounted for the entire daily outflow figure.

Morgan Stanley (NYSE: MSBT) was the only crypto ETF to draw fresh capital on the day, taking in $6.14 million, equal to 86.01 BTC.

The remaining nine funds across the category, including Grayscale’s two products, Bitwise, VanEck, Invesco, Valkyrie, Franklin, WisdomTree, and Hashdex, all recorded zero net flows for the session.

Crypto ETFs Cap Heavy Week of Selling

Weekly Bitcoin ETFs flows for the week ending May 29 came in at negative $1.42 billion, the third consecutive weekly outflow for the products.

The previous week ending May 22 saw $1.26 billion in outflows, while the week of May 15 closed at negative $1.00 billion.

Over the three-week period, Bitcoin ETFs have recorded net outflows of close to $3.68 billion. The combined three-week figure has pushed cumulative net inflow back to levels last seen in early April.

Total net assets across the Bitcoin ETFs have fallen from $106.61 billion at the close of May 8 to $91.16 billion by June 1, a drop of more than $15 billion across the four-week stretch.

Ethereum ETFs Extend Streak to 15 Sessions

Ethereum ETFs posted $44.44 million in net outflows on June 1, the fifteenth consecutive day of withdrawals for the category.

Cumulative net inflow for the Ethereum ETFs fell to $11.33 billion, with total net assets at $11.14 billion. Trading volume reached $700.17 million on the session, the highest daily figure of the recent stretch.

The Ethereum outflow run began on May 11 and has continued without a positive session since. The largest single day across the streak was May 18 at $121.35 million in outflows, with May 28 close behind at $86.31 million.

May 27 saw $67.15 million in withdrawals, with the recent sessions running at smaller daily figures as the bulk of redemptions worked through the largest products.

Weekly Ethereum ETFs flows for the week ending May 29 came in at negative $241.45 million, broadly in line with the previous week’s $215.99 million in outflows.

The three-week stretch has pulled close to $713 million out of the Ethereum funds. The combined cumulative net inflow across Bitcoin and Ethereum crypto ETFs in the United States now stands at $66.51 billion.

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