Spot Bitcoin exchange-traded funds in the U.S. saw another day of net outflows on Monday, following four weeks of negative flows.
According to data from SoSoValue, the Bitcoin ETFs reported $91.4 million in net outflows on June 8. Since May 15, U.S. spot Bitcoin ETFs have shed nearly $5 billion, reporting net outflows on every single trading day except for June 4, when they added just $3.2 million.
"I don't think these outflows necessarily reflect a broad shift in institutional sentiment toward bitcoin," said Ryan Myher, co-founder and COO of Genius. "From a market perspective, ETF flows often lag sentiment rather than lead it. After a period of macro uncertainty and volatility, it's natural to see investors reduce exposure."
Myher noted that despite the outflows, bitcoin's institutional infrastructure is strengthening, and long-term allocators have yet to show any signs of abandoning the asset class.
Notably, Monday saw four funds with net inflows — Ark & 21Shares' ARKB had $63 million, Fidelity's FBTC had $59.4 million. At the same time, funds from Bitwise and Morgan Stanley also reported positive flows for the day. However, these inflows were outweighed by $233 million in net outflows from BlackRock's IBIT.
