Bitcoin and ether spot exchange-traded funds end record multibillion outflow streak

U.S. spot bitcoin BTC$61,875.23 ETFs ended a record 13-day streak of outflows, adding $3.05 million on Thursday after losing more than $4.4 billion in redemptions since mid-May.

The outflows, together with the plunging price of the largest cryptocurrency, dragged total bitcoin ETF assets down to $80.40 billion from $104.29 billion at the start of the streak.

It’s worth keeping in mind the size of yesterday’s inflows compared with the outflows. The $3 million figure is less than any single day of outflows during the period, which mostly saw exits above $100 million.

BlackRock’s IBIT, the largest fund in the category, received $47.66 million on Thursday, while Fidelity’s FBTC, Bitwise’s BITB and Ark’s ARKB continued to bleed, SoSoValue data shows.

The total bitcoin assets under management (AUM) in the investment vehicles stand at 1.277 million BTC, about 7.2% below the October record, according to CheckonChain. That is slightly above the Feb. 23 low of 1.274 million BTC, reached as the price of bitcoin recovered from its February trough near $60,000. Bitcoin fell to $63,800 on Thursday after rising as high as $64,660.

Spot ether(ETH) ETFs also ended a streak of outflows, taking in $19.30 million after 17 days of redemptions. BlackRock’s ETHA benefited from the influx, with every other ether ETF logging zero net flow.

Total ether ETF assets sit at $9.78 billion, or 4.57% of ether’s circulating market capitalization, with cumulative inflows since the 2024 launch at $11.21 billion. The category remains roughly $2 billion below its asset peak from earlier in the year.

Meanwhile, Hyperliquid’s HYPE ETFs were the only investments to avoid outflows during the period. The three ETFs took in another $12.15 million on Thursday, extending a run of inflows that started with their debut on May 12. Grayscale’s low-fee HYPG fund pulled $4.70 million on its first day of trading.

On Friday, Bitcoin fell 1.7% to $62,700, ether dropped to $1,670 and the broader risk picture deteriorated as the global AI trade rolled over on Broadcom’s outlook miss and a 4.7% selloff in South Korea’s KOSPI index.

CORRECT (June 5, 10:09 UTC): Corrects day to Thursday in first paragraph and elsewhere.