One day. That’s how long the good vibes lasted. After Bitcoin ETFs finally snapped a brutal 13-day outflow streak on June 4, investors turned right back around and pulled $326 million out on June 5.
Ethereum ETFs joined the retreat, losing roughly $6 million on the same day. Not exactly a crisis-level number for ETH, but still a reversal from the $19.3 million in inflows the category saw just 24 hours earlier.
BlackRock’s IBIT drove most of the damage
BlackRock’s iShares Bitcoin Trust, better known as IBIT, accounted for roughly $214 million of the total outflows. That’s about two-thirds of the entire day’s redemptions coming from a single fund. The remaining $112 million in outflows was spread across other Bitcoin ETF products.
Total Bitcoin ETF assets under management sit in the $75 billion range. A $326 million single-day outflow represents less than half a percent of that total. This followed a 13-day outflow period that drained approximately $4.4 billion from these funds. The brief reprieve on June 4, when Bitcoin ETFs attracted $3.05 million in inflows, now looks less like a trend reversal and more like a pause for breath.
