Spot Bitcoin ETFs See 13-Day Outflow Streak, $4.33B Exit

Spot Bitcoin exchange-traded funds recorded 13 consecutive days of net outflows from May 15 to June 3, losing $4.33 billion and 59,351 BTC, according to Galaxy Research. The stretch is the longest continuous run since the products launched in early 2024.

Galaxy Research reported that the intensity of selling is greater when measured in coins. A 20-day trailing window showed record outflows of $5.42 billion, equal to 73,080 BTC. Shorter windows also set records: seven-day outflows reached 39,338 BTC and 10-day outflows reached 42,941 BTC.

The withdrawals reversed strong inflows in April, when the funds attracted $1.97 billion. The roughly $4.4 billion that exited over the past month pushed year-to-date flows back into negative territory, erasing an earlier recovery. Eric Balchunas, a senior ETF analyst, wrote: ‘Not bad at all for this type of drawdown and negative sentiment… But yeah, to quote Henry Hill, this is the bad times.’ He added that BlackRock’s IBIT and a few peer funds remain positive for the year and that lifetime net inflows across spot Bitcoin ETFs sit near $55 billion, about $10 billion below the peak.

Outflows were not limited to Bitcoin. Ethereum ETFs logged 17 straight days of net withdrawals, their longest run on record. Newer and niche products showed mixed results: Hyperliquid’s HYPE funds drew inflows after a mid-May debut, a BNB ETF posted one positive day, and XRP and Solana products experienced intermittent inflows, outflows and several flat sessions.

Galaxy Research’s figures show recent volatility in flows for the spot crypto ETF group while cumulative lifetime net inflows remain near $55 billion.