US spot Bitcoin ETFs hemorrhaged $226.8 million in net outflows during the week ending June 18, according to data from SoSoValue. That makes six straight weeks of investors pulling money out, the longest such streak on record for these funds.
The cumulative damage over that six-week stretch: $5.94 billion in total outflows. Not exactly a vote of confidence.
The bleeding is slowing
Here’s the thing. While the headline number looks ugly, the trend underneath it tells a different story. Outflows dropped from $1.72 billion in the first week of June to just over $226 million last week. That’s a roughly 87% decline in selling pressure over the span of six weeks.
“To me, that suggests the selling wave is largely exhausting itself rather than accelerating,” said Jeff Ko, Chief Analyst at CoinEx.
