US-listed spot Bitcoin exchange-traded funds (ETFs) are experiencing a third consecutive day of outflows, shedding over $1 billion in assets. This trend reflects a shift in institutional sentiment as Bitcoin’s price remains stagnant around the $105,000 mark without a clear breakout.
According to data from SoSoValue, the 12 US-listed spot Bitcoin ETFs saw $268 million in net outflows on June 2 alone, following even larger exits on May 29 and 30. Industry analysts attribute these outflows to the broader market cooling and investors seeking to reduce risk or reallocate capital to other asset classes during a period of price consolidation.
Even the largest Bitcoin ETF in the US, BlackRock’s iShares Bitcoin Trust (IBIT), has not been immune to this trend. However, IBIT still manages over $72 billion in assets and maintains its position among the country’s top 25 largest ETFs.
Bloomberg ETF analyst Eric Balchunas highlighted IBIT’s rapid rise, noting that it is the youngest ETF in the top 25 at just 1.4 years old, significantly younger than its peers.
Meanwhile, in Europe, retail investors now have expanded access to Bitcoin ETFs. Jacobi Asset Management recently removed long-standing investment restrictions on its Bitcoin ETF, allowing retail investors to directly invest in the product following regulatory changes in Guernsey. Jacobi CEO Peter Lane expressed excitement about expanding access to all investors and praised Guernsey’s proactive regulatory approach.
Overall, despite the recent outflows in US-listed spot Bitcoin ETFs, institutional interest in Bitcoin remains strong globally, with new opportunities emerging for retail investors to gain exposure to the flagship digital asset through regulated investment vehicles.