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Bitcoin ETFs Face Record Outflows
For 13 consecutive days, investors have been withdrawing money from spot cryptocurrency exchange-traded funds. In total, they have pulled more than $4 billion from Bitcoin ETFs over this period.
Spot Bitcoin exchange-traded funds (ETFs) in the United States are experiencing a record streak of capital outflows, which has now lasted for 13 consecutive trading days. From 15 May to 3 June, $4.33 billion, or approximately 59.4 thousand Bitcoin, was withdrawn from crypto ETFs, according to calculations by Galaxy Research.
Analysts note that the current wave of selling has become the largest in the entire history of observations. Several time intervals have set new outflow records at once:
over 7 days: $2.78 billion and 39.3 thousand $BTC. This is the largest net outflow for such a period in Bitcoin terms;
over 10 days: $3.06 billion and 42.9 thousand $BTC. This is also a record for such a period in Bitcoin terms;
over 20 days: $5.42 billion and 73.1 thousand $BTC. This is a record both in dollar terms and in the number of Bitcoin.
The chart shows inflows and outflows in Bitcoin ETFs since 1 May: green and red bars, as well as Bitcoin’s price dynamics — the yellow line. Data: SoSoValue, Galaxy.
After their launch in 2024, US spot ETFs became one of the main sources of institutional capital inflows into the crypto market. Outflows from such funds are usually accompanied by Bitcoin sales by asset management companies, which increases pressure on the price.
The outflows are taking place against the backdrop of a sharp collapse in cryptocurrency prices. On 3 June, Bitcoin fell towards $61,000, while the total capitalisation of the crypto market declined by 3.65% over 24 hours to $2.22 trillion.
See also: "Polymarket Traders Put the Probability of Bitcoin Falling Below $60,000 in June at 62%"
