Spot Bitcoin funds in the United States recorded $91.4 million in outflows on Monday, bringing the total since mid-May to nearly $5 billion.
Spot Bitcoin ETF funds in the United States recorded another day of net outflows on Monday, June 8, extending a negative streak that has now lasted over four weeks. According to data from SoSoValue, daily net outflows stood at $91.4 million.
Since the negative phase began on May 15, U.S. Bitcoin ETFs have collectively shed nearly $5 billion, posting outflows in every single trading session with the exception of June 4, when they attracted just $3.2 million in net inflows. This represents one of the longest negative streaks since these instruments were launched.
Despite the overall negative picture, Monday’s session showed potentially encouraging signs: four funds recorded inflows. Ark & 21Shares’ ARKB led the way with $63 million, followed by Fidelity’s FBTC with $59.4 million. Funds from Bitwise and Morgan Stanley also reported positive flows during the day. However, these inflows were more than offset by $233 million in net outflows from BlackRock’s IBIT.
Ryan Myher, co-founder and COO of Genius, offered a cautious but not pessimistic reading of the data to The Block: “I don’t think these outflows necessarily reflect a structural shift in institutional sentiment toward Bitcoin,” he said. “From a markets perspective, ETF flows tend to follow sentiment with a lag, not lead it. After a period of macro uncertainty and volatility, it’s natural for investors to reduce their exposure.” Myher emphasized that, despite the outflows, the institutional infrastructure around Bitcoin is strengthening and long-term allocators are showing no signs of abandoning the asset class.
The analyst interpreted the distribution of inflows across multiple issuers as a positive signal: “When you start to see inflows distributed across multiple ETF issuers, despite a large redemption from a single fund, it often suggests that the broad selling pressure is beginning to ease,” he stated. “Markets tend to bottom when sellers are exhausted, and the recent flow data could be an early indication that we are approaching that phase.”
