TL;DR
Bitcoin ETFs in the U.S. recorded a $231 million net outflow, extending withdrawals to eight consecutive trading days.
Spot Ethereum ETFs also remained under pressure, posting $30.043 million in net outflows on June 29.
ARKB and BlackRock’s ETHA led their respective markets in single-day inflows despite the broader selling trend.
June is on course to become the worst month for U.S. spot Bitcoin ETFs since their launch, with nearly $4 billion in cumulative outflows.
U.S. spot Bitcoin ETFs extended their losing streak on June 29 after recording a combined net outflow of $231 million, while spot Ethereum ETFs posted $30.043 million in net withdrawals, according to SoSoValue data. The latest figures mark the eighth consecutive trading day of net outflows for both crypto investment products.
Despite the broader wave of withdrawals, some funds still attracted fresh capital. Ark Invest and 21Shares’ ARKB registered the largest single-day inflow among Bitcoin ETFs at $49.969 million, while BlackRock’s ETHA led Ethereum ETF inflows with $5.869 million. However, those gains were insufficient to offset heavier redemptions across the broader market.
The latest decline comes as June shapes up to be the weakest month for U.S. spot Bitcoin ETFs since they began trading in January 2024, with cumulative outflows nearing $4 billion.
ARKB and ETHA Defy Broader Ethereum and Bitcoin ETFs Outflow Trend
Although investor sentiment remained largely negative, ARKB and ETHA stood out by attracting fresh inflows while many competing funds continued to lose assets. Their positive performance suggests that some investors are still selectively allocating capital to crypto ETFs despite the broader market pullback.
However, the overall trend remains firmly negative. Bitcoin ETFs have now posted eight straight sessions of net redemptions, indicating a more prolonged period of selling than previous pullbacks as the Bitcoin price slips below $60,000. These are often followed by a quick rebound in demand. Ethereum ETFs have followed a similar path, with June largely characterized by persistent outflows after months of mixed fund flows.
According to on-chain data, from June 22 to June 26 (ET), spot Bitcoin ETFs recorded net outflows of $1.79 billion. Spot Ethereum ETFs saw net outflows of $273 million, marking seven consecutive weeks of outflows as institutional interest dwindles.
Spot XRP ETFs recorded net inflows of $22.99 million, while spot HYPE ETFs saw net inflows of $111 million.
Macro Uncertainty Continues to Pressure Crypto ETFs
Market observers attribute the sustained withdrawals largely to the current macroeconomic environment. Elevated interest rates have boosted the appeal of lower-risk assets such as government bonds and money market funds, prompting some institutional investors to scale back exposure to more volatile assets like Bitcoin and Ethereum.
Investors are now closely watching upcoming economic data and any changes in U.S. Federal Reserve policy expectations, as shifts in the interest-rate outlook could influence capital flows into risk assets. Market participants will also be monitoring whether the current outflow streak finally comes to an end, as a return to sustained inflows could signal renewed confidence in the crypto ETF market.
According to SoSoValue data, total net assets held by U.S. spot Bitcoin ETFs stood at approximately $73.19 billion following the latest trading session, highlighting that despite recent selling pressure, the products remain a major channel for institutional cryptocurrency investment.
