Spot Bitcoin ETFs Post $1.7B Weekly Outflows

Spot Bitcoin exchange-traded funds recorded about $1.72 billion in net outflows in the week ending June 5, extending a four-week streak of billion-dollar redemptions that began the week ending May 15, SoSoValue data showed. Farside Investors' compilation indicates the pressure was concentrated in the first three trading days of June, with losses of $483.8 million, $519.1 million and $396.6 million; the funds briefly reversed into a $3.2 million inflow on Thursday before $325.7 million left on Friday.

BlackRock’s iShares Bitcoin Trust ETF (IBIT) accounted for roughly $1.34 billion of the week's redemptions, while the Fidelity Wise Origin Bitcoin Fund (FBTC) lost $201.9 million and the Grayscale Bitcoin Trust ETF (GBTC) saw $144.3 million withdrawn. Matthew Pinnock, chief operating officer of Altura DeFi, characterized the outflows as a “macro-driven repricing of risk” rather than a Bitcoin-specific concern.

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