Bitcoin ETF outflows reach third highest weekly record ever

The week of 22 to 26 June was outright bad for spot Bitcoin ETFs. In total, $1.79 billion flowed out of these funds net, making it the third-highest weekly outflow record ever. Ethereum ETFs also show a worrying picture, while XRP and HYPE perform slightly more positively.

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Third Highest Outflow Ever for Bitcoin ETFs

The figures do not lie. During the past trading week, investors massively left the spot Bitcoin ETFs, resulting in a net outflow of $1.79 billion. This places the week third in the record books, only surpassed by two earlier outliers. Meanwhile, the Bitcoin price stands around $60K, a drop of 0.4% over the past 24 hours.

The ongoing outflow puts pressure on confidence in Bitcoin as an investment vehicle through regulated funds. It was previously warned that the Bitcoin price around $60.000 is vulnerable and a drop towards $55.000 is not ruled out if the outflow continues. Total net assets in spot Bitcoin ETFs currently stand at $72.82 billion.

Ethereum Seven Weeks in a Row in the Red, XRP and HYPE Positive

Besides Bitcoin, Ethereum ETFs also took a significant hit. The outflow amounts to $273 million over the same week, extending the negative streak to seven consecutive weeks. That is a remarkably long period of sustained pessimism around Ethereum as an ETF product. It has been visible for some time that both Bitcoin and Ethereum ETFs are under pressure.

A slightly happier story comes from spot XRP ETFs, which showed $22.99 million in net inflows. Even more striking are HYPE ETFs, which record as much as $111 million in inflows. These positive figures contrast favourably with the bleedings elsewhere in the ETF market, although the volumes are of course not comparable to Bitcoin or Ethereum.