Spot Bitcoin ETF outflows hit $4.37 billion in 13 days, with BlackRock’s IBIT leading the selloff
Bitcoin plummeted below $60,000 for the first time since October 2024 on June 3, 2026, marking a new low for this cycle as spot Bitcoin ETFs recorded their 13th consecutive outflow. The streak represents the longest consecutive outflow period in Bitcoin ETF history.
From May 15 to June 3, US Bitcoin Spot ETFs experienced $4.37 billion in net outflows over 13 days. BlackRock’s IBIT accounted for approximately $3.3 billion of that total, or roughly 75% of all outflows. Fidelity’s Wise Origin Bitcoin Fund saw $456 million in outflows, while Grayscale’s GBTC recorded $303 million in redemptions during the same window.
Bitcoin declined 18% over the past 14 days, touching $59,000 last week before recovering to $62,000 as of the latest data. The $60,000 level had held as support since October 2024, making its breach significant for technical traders monitoring the asset’s downside.
The outflow streak broke briefly on June 5, when Bitcoin ETFs recorded a $3.05 million net inflow. However, the same day saw a $325.69 million outflow, resuming the bearish momentum. Grayscale’s GBTC has been particularly vulnerable, bleeding assets since converting from a closed-end trust to a spot ETF. The fund’s 1.5% fee has made it less competitive than lower-cost alternatives like IBIT and Fidelity’s offering.
Geopolitical tensions have heightened investor uncertainty across markets. Overall market sentiment has weighed heavily on cryptocurrency, with bearish conditions persisting and no clear signs of rebound. Some analysts have warned that Bitcoin could decline further toward $50,000 if selling pressure continues.
The 13-day outflow streak underscores a shift in institutional and retail positioning. BlackRock’s IBIT, the largest spot Bitcoin ETF by assets, has been the primary vehicle through which investors have exited positions. The scale of outflows from the world’s largest asset manager signals reduced demand at current price levels.
Data on the outflow streak comes from SoSoValue, a platform tracking ETF flows, while price movements are sourced from CMC. The consecutive outflow days mark a departure from the inflow patterns that dominated much of 2024 and early 2025, when spot Bitcoin ETFs were attracting sustained capital.
