Bitcoin ETFs Post $326M Outflow as BlackRock's IBIT Accounts for Most Redemptions

The rebound lasted just a day. After U.S. spot Bitcoin ETFs broke a 13-day streak of net outflows with inflows of $3.05 million on June 4, the group swung back to net redemptions on June 5, shedding $326 million. Spot Ethereum ETFs also turned negative on June 5, with about $5.97 million in outflows, reversing the prior day's $19.3 million of net inflows. BlackRock's iShares Bitcoin Trust (IBIT) led the pullback, posting roughly $214 million in outflows—around two-thirds of the day's total. The remaining $112 million was spread across other Bitcoin ETF products. Total assets under management for Bitcoin ETFs are around $75 billion, making the $326 million single-day outflow less than 0.5% of the total. The move follows a 13-day stretch that drained an estimated $4.4 billion from the category, suggesting June 4 was more of a pause than a sustained reversal. Bitcoin was trading near $59,000 during the outflows, with technical analysts pointing to $60,000 as a key support level. The contrast with Ethereum was notable: $326 million in Bitcoin ETF outflows versus about $6 million for Ethereum—a roughly 54-to-1 gap that points to Bitcoin-specific redemption pressure rather than a broad institutional exit from crypto funds.