Bitcoin ETF posts fifth straight week of outflows with $316 million loss

Spot Bitcoin ETFs have recorded a negative balance for the fifth consecutive week. In the week from 8 to 12 June, net outflows from these funds totalled $316 million, reflecting the ongoing lack of institutional buying appetite. The Bitcoin price currently stands at $65K, up 1.9% over the past 24 hours.

Bitcoin is available at OKX and Bybit.

Fifth consecutive week of outflows for Bitcoin ETFs

The Bitcoin ETF market has been struggling for weeks. Total net assets of spot Bitcoin ETFs currently stand at $79.65 billion, while weekly net outflows amount to as much as $315.84 million. On Friday 12 June, a Bitcoin ETF still attracted $85 million, but that was not enough to save the weekly balance.

Analysts are closely monitoring the situation. Michaël van de Poppe states that the Bitcoin price may be nearing the bottom, while long-term Bitcoin holders are selling less than ever. The chart from data platform SoSoValue clearly shows the red weeks of the past month, with outflows steadily increasing.

Ethereum and Solana also in the red, XRP is the exception

Bitcoin ETFs are not the only ones seeing outflows. Spot Ethereum ETFs also recorded a fifth consecutive week of outflows, with $14.91 million leaving the funds. The Ethereum price is already under pressure and is experiencing its second-worst first half year ever. Spot Solana ETFs saw outflows of $2.58 million, according to the overview from Wu Blockchain.

Yet it is not all doom and gloom. Spot XRP ETFs actually saw inflows of $10.68 million, making XRP the positive exception for the week. In addition, spot HYPE ETFs recorded inflows of $5.87 million. Whether this marks the start of a broader recovery in ETF flows remains to be seen, but the persistent outflows from Bitcoin give little reason for optimism in the short term.