US Spot Bitcoin ETFs Extend Outflows; Analysts See Signs Selling Pressure Is Easing

US spot Bitcoin exchange-traded funds continued to post outflows, even as analysts pointed to signs that broader selling pressure may be starting to ease.

The Block reported on June 9 that US spot Bitcoin ETFs logged net outflows of $91.4 million a day earlier. That brought cumulative net outflows since May 15 to about $5 billion.

Spot Bitcoin ETFs have posted outflows on most trading days over the past four weeks. The only session to record net inflows was June 4, when the funds added $3.2 million.

Flows diverged across individual ETFs. Ark Invest and 21Shares' ARKB drew $63 million of net inflows, while Fidelity's FBTC took in $59.4 million. Bitwise and Morgan Stanley ETFs also posted modest inflows.

BlackRock's IBIT, by contrast, saw $233 million in outflows, driving the overall net outflow higher.

Ryan Myher, co-founder and chief operating officer of Genius, said the latest outflows do not necessarily signal a fundamental deterioration in institutional appetite for Bitcoin. Rather, investors may have temporarily cut exposure to risk assets amid macroeconomic uncertainty and heightened market volatility.

He added that while large redemptions have been concentrated in specific ETFs, several others are still attracting inflows. That could indicate selling pressure across the broader market is beginning to ease.

Meanwhile, US spot Ether ETFs returned to net inflows. The funds recorded net inflows of $82.4 million a day earlier, led by Fidelity's FETH and BlackRock's ETHB.

Myher said capital on the sidelines could return if Bitcoin holds key support levels and the macro environment stabilizes. In that case, ETF demand may once again help underpin a broader market advance.