Spot Bitcoin ETFs Log Fifth Straight Weekly Loss, Though Outflows Ease

Spot Bitcoin exchange-traded funds posted a fifth consecutive week of net outflows, extending their losing streak, though the pace of withdrawals slowed notably from the prior week. Friday provided a brief reprieve, ending with net inflows. Data compiled by SoSoValue show investors pulled $91.37 million on Monday, $77.44 million on Tuesday, $213.85 million on Wednesday, and $19.03 million on Thursday. Flows turned positive on Friday, with $85.85 million in net inflows. Even so, the week finished with nearly $316 million in net outflows. While the latest weekly outflow was far smaller than the more than $1.7 billion recorded during the first business week of June—one of the worst weeks since launch—the broader downtrend remains intact. Since the week that ended May 15, spot Bitcoin ETFs have seen more than $5.7 billion leave the products. Over the same period, cumulative net inflows fell to $53.62 billion on June 12 from $59.34 billion on May 8. Spot Ethereum ETFs have tracked a similar pattern. SoSoValue data indicate the funds also logged five straight weeks in the red, though last week's decline was modest. Monday saw $82.37 million in net inflows, followed by net outflows of $40.85 million on Tuesday, $35.59 million on Wednesday, $15.89 million on Thursday, and $4.95 million on Friday. The week ended with just under $15 million in net outflows, sharply lower than the $173 million withdrawn the prior week. Cumulative net inflows for spot Ethereum ETFs slipped to under $11.20 billion on Friday after peaking at $12.09 billion on May 8.