Spot bitcoin (BTC) exchange-traded funds in the U.S. have reported their sixth consecutive week of net outflows.
According to data from SoSoValue, spot bitcoin ETFs saw $226.8 million in net outflows in the week ending June 18. In the past six weeks, the funds posted a total of $5.94 billion in outflows. This six-week period also marks the longest consecutive streak of weekly net outflows.
"We believe that investors are simply allocating capital toward AI equities, given the SpaceX IPO and the amount of attention the AI sector is attracting at this point," said Jeff Mei, COO of BTSE. "AI will be a dominant theme going forward, especially given that companies such as OpenAI and Anthropic have yet to go public."
While weekly outflows have continued for six straight weeks, the volume of negative flows weakened, going from $1.72 billion in outflows in the first week of June to just over $226 million last week.
"To me, that suggests the selling wave is largely exhausting itself rather than accelerating," said Jeff Ko, Chief Analyst at CoinEx. "It's also worth noting that a meaningful portion of the outflows reflects rates, basis, and arbitrage unwinds instead of pure spot demand leaving the asset."
