Spot Bitcoin ETFs see four weeks of outflows
Spot Bitcoin ETFs have experienced four consecutive weeks of outflows, totaling $1.7 billion. The largest redemptions came from IBIT due to its scale and liquidity.
The outflows are attributed to a macro-driven repricing of risk rather than Bitcoin-specific concerns. This trend is also seen in spot Ether ETFs, which shed $173.05 million in the week ending June 5.
Other altcoin ETF products have shown different patterns, with HYPE ETFs recording $16.65 million in net inflows in the same week. The total outflows for Ether ETFs over the four weeks amount to $885.6 million.
The timing of these redemptions aligns with stronger-than-expected US employment data and rising Treasury yields, indicating a shift in institutional risk appetite.