Sygnum CIO Fabian Dori says recent bitcoin ETF outflows are more likely tied to arbitrage unwinds and macro liquidity pressures than investors rotating into anticipated IPOs such as SpaceX.

ETF outflows persist as SpaceX IPO amasses liquidity.

Spot Bitcoin ETFs posted a fourth straight week of billion-dollar outflows, while Ether ETFs shed another $173 million as investors cut crypto exposure amid macro uncertainty.

One analyst predicted that selling pressure in bitcoin ETFs is starting to ease, pointing out that four funds saw net inflows for the day.

Bitcoin ETFs lost $91M on June 8 while Ethereum ETFs gained $82M, extending a weeks-long divergence that hints at institutional capital rotation.

The pace of outflows from U.S. spot Bitcoin ETFs has “moderated,” with analysts assessing whether selling pressure is exhausting.

Sygnum CIO Fabian Dori says recent bitcoin ETF outflows are more likely tied to arbitrage unwinds and macro liquidity pressures than investors rotating into anticipated IPOs such…