Bitcoin ETF Flows Slide More Than $11B From Peak, Says Bloomberg Intelligence

Bitcoin ETF outflows are deeper than many investors realize, according to Bloomberg Intelligence ETF analyst James Seyffart, cited by CoinDesk. He said net inflows have fallen from a peak of about $63 billion to a little over $51 billion, implying more than $11 billion has been pulled back from the high. Seyffart said the latest redemption wave has pushed aggregate Bitcoin ETF flows below their February low, marking one of the longest and most pressured outflow stretches since launch. He added that selling pressure appears to be accelerating rather than easing. He pointed to recent daily moves: roughly $700 million left on June 25, followed by about $445 million the next day. Additional outflows of around $232 million and $223 million were recorded on subsequent days. Seyffart said institutional activity and overall market sentiment weakened at the same time. He said there is no single driver behind the withdrawals. Basis trades that previously helped attract institutional capital have largely faded, and concerns tied to Strategy and the stability of its Bitcoin holdings have weighed on sentiment. He also noted investor focus is rotating toward other areas, with AI and space-related themes drawing more capital and attention than Bitcoin ETFs. New products continue to come to market despite the redemptions. The report said Goldman Sachs and BlackRock have introduced covered-call Bitcoin income ETFs aimed at investors seeking income and lower volatility. Seyffart said there is demand for lower-volatility Bitcoin exposure, though the market remains split on whether strategies that trade upside for yield fit an inherently high-volatility asset. He described the current wave of ETP launches as a "spaghetti cannon" approach given the pace and density of new offerings. By contrast, some smaller, newer products—such as ETFs tied to Solana, XRP, and Hyperliquid—have shown steadier performance. Seyffart said these bear-market-era launches have held up better under pressure than some more established Bitcoin and Ethereum funds.