Bitcoin ETFs extend a 13-day outflow streak to $4.4 billion as Bitcoin drops about 21% since mid-May and demand shows signs of sharp contraction.

Dampened hopes for an improved macroeconomic environment have led institutions to move from crypto ETFs to AI stocks, an analyst said.

US spot Bitcoin ETFs pulled in another $519 million of net redemptions on June 2, extending the longest outflow run since the funds launched and tipping a leveraged market into…