Bitcoin spot ETFs see record outflows over 13 day streak with total outflows at $4.3 billion

U.S. spot Bitcoin ETFs have experienced net outflows for a staggering 13 consecutive trading sessions, with a total of $4.37 billion (59,351 BTC) drained from the funds between May 15 and June 3, according to Galaxy Research.

This is the longest ever negative streak of consistent selling seen with spot Bitcoin ETFs since they launched in January 2024. Galaxy Research also noted that outflow windows across 7-day, 10-day, and 20-day periods all set all-time records during in and around the streak, a sign that selling pressure has been intensive and sustained over a long while instead of being concentrated in a single wave at once.

Bitcoin ETFs AUM down over $21 billion in three weeks

Total net assets under management across all U.S. spot Bitcoin ETFs fell from $104.29 billion on May 15 to $82.83 billion on June 3, a decline of $21.46 billion driven by the combination of massive outflows in addition to the Bitcoin’s price nosedive. Bitcoin ETF holdings now equal about 6.36% of Bitcoin’s circulating market cap, down from above 7% at the mid-May peak.

Bitcoin itself traded near $65,000 on Wednesday, having broken below $70,000 earlier in the week for the first time since April. The number one cryptocurrency has fallen by about 47% from its October 2025 ATH near $126,200.

BlackRock and Fidelity take hits

Wednesday, June 3, alone saw over $396.6 million leave the Bitcoin ETFs, with BlackRock’s IBIT accounting for $342.34 million of that total, and Fidelity’s FBTC shedding about $54.26 million. No other spot Bitcoin ETF recorded net inflows or outflows on the day.

IBIT’s losses on May 27 were even worse than yesterday’s. Cryptopolitan reported that BlackRock’s flagship fund saw roughly $528 million in single-day withdrawals on that day, its second-largest daily outflow on record.

Are insitutions cutting back on BTC exposure?

First-quarter 13F filings revealed that some large holders had already been trimming BTC exposure before the outflow streak even started. Jane Street cut its Bitcoin ETF position by approximately 70%, rotating part of that acquired capital into Ether ETFs, while Goldman Sachs popped its holdings by almost 10%, IG Bank reported.

Strategy (formerly MicroStrategy) disclosed in a Form 8-K submitted on June 1 that it sold 32 Bitcoin between May 26 and May 31 at an average price of $77,135, its first sale since December 2022. The sale raised roughly $2.5 million to fund preferred stock distributions for the company.

Even though the sale was operationally small, standing at less than 0.004% of Strategy’s 843,706 BTC treasury, and theoretically not holding much sway, it mattered a lot psychologically as MSTR shares fell 9% on Tuesday.

Altcoin ETFs not left out

The selling pressure and continuous outflows are not limited to Bitcoin ETFs. Ether ETFs lost $52.94 million on Wednesday, with BlackRock’s ETHA responsible for nearly all of this amount at $51.58 million. Solana funds saw $12.74 million in outflows, led by Bitwise’s BSOL, and XRP products shed $5.34 million.

Hyperliquid’s HYPE ETFs were the only major crypto fund category still attracting inflows and purchases in the general market. 21Shares’ THYP pulled in another $2.99 million on Wednesday, pushing cumulative net inflows since the product’s May 12 launch to $139.51 million.

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