Spot bitcoin ETFs have recorded 13 consecutive days of net capital outflows from May 15 to June 3. This is the longest outflow streak since these products launched at the start of 2024.
According to Galaxy Research, during this period, the funds lost $4.33 billion and 59,351 BTC. This is especially striking compared to April, which was the most successful month for bitcoin ETFs in 2026. At that time, net inflows totaled $1.97 billion.
Record Bitcoin Outflows From ETFs
If you look at the situation not in dollars, but in the number of bitcoins, the picture becomes even more telling. According to Galaxy Research, over the past 20 trading days, investors withdrew 73,080 BTC from spot bitcoin ETFs, worth about $5.42 billion. This is the largest outflow for the funds over a similar period since their launch.
Records were also set over shorter time frames. Over the past seven days, ETF outflows totaled 39,338 BTC, and over ten days the figure rose to 42,941 BTC. The market has not previously recorded such large bitcoin outflows over these periods.
Both results set records for their respective periods.
Bitcoin ETF dynamics. Source: X / Galaxy Research
Senior Bloomberg ETF analyst Eric Balchunas noted that the outflow of about $4.4 billion over the past month has once again pushed year-to-date figures into negative territory. According to him, this wiped out the recovery that the funds had previously achieved.
However, Balchunas noted that there are also positive signals in the market. The IBIT fund from BlackRock and several other ETFs still maintain positive performance since the start of the year. In addition, the total net inflow for all time in spot bitcoin ETFs remains at about $55 billion, which is less than $10 billion below the historical maximum.
‘For a correction of this scale and such negative sentiment, this is not a bad result at all. A few years after GLD launched, gold experienced a similar situation, and about 40% of assets left the fund. So far, bitcoin ETF investors look much more resilient. But, as Henry Hill said, these are tough times now,’ the analyst added.
Capital Outflows Have Spread Across the Market
Pressure is being seen not only in bitcoin ETFs. Spot ETFs for Ethereum (ETH) have also recorded 17 consecutive days of net outflows, the longest such streak in the history of these products.
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For newer crypto funds, the situation is mixed. ETFs for Hyperliquid (HYPE) have continued to attract capital since their launch in mid-May. After launch, the ETF for BNB has not yet attracted investor interest. Over the entire trading period, the fund has closed in the black only once.
For products related to XRP and Solana, there is no clear trend yet. Capital inflows are replaced by outflows, and some trading sessions pass with almost no movement.
The simultaneous outflow from bitcoin and Ethereum ETFs indicates that major market participants are now acting more cautiously. June could be a revealing month: if selling starts to subside, it will signal renewed interest from institutional investors. If outflows continue, market pressure will remain.
