US spot Bitcoin ETFs just logged their worst 30-day stretch since they debuted in January 2024, with cumulative outflows reaching approximately $6 billion across recent months as Bitcoin’s price cratered 17% over the past month.
The bleeding was most acute during a 13-day consecutive outflow streak from May 15 through June 3, which alone accounted for roughly $4.4 billion in net redemptions. In Bitcoin terms, that’s about 59,400 BTC walking out the door.
Where the money went
The outflows weren’t evenly distributed across the dozen-odd spot Bitcoin ETF products. The pain was concentrated in the two biggest funds: BlackRock’s IBIT and Fidelity’s FBTC, which saw peak daily redemptions in the hundreds of millions of dollars.
The streak finally snapped with a modest net inflow of $3 million around June 4-5. Weekly outflows remained considerable even after the streak ended, with one week alone seeing $1.7 billion in net redemptions.
