Ethereum and Bitcoin Spot ETFs End Outflow Streaks with Fresh Inflows

After weeks of watching money walk out the door, US spot Bitcoin and Ethereum ETFs finally caught a break. Both product categories recorded net inflows on June 4-5, ending outflow streaks that had lasted nearly half a month for Bitcoin and even longer for Ethereum.

The numbers themselves are modest. Bitcoin spot ETFs pulled in roughly $3.05 million in net inflows, while Ethereum spot ETFs attracted $19.30 million.

Bitcoin ETFs had endured 13 consecutive days of net outflows before the reversal. During that stretch, which began in mid-May, investors redeemed approximately $4.4 billion from these products.

Ethereum’s outflow streak was even longer at 17 consecutive days. The $19.30 million inflow that broke it is interesting for one specific reason: every dollar of it came from a single fund.

BlackRock’s iShares Ethereum Trust, ticker ETHA, accounted for the entirety of Ethereum’s positive day. No other Ethereum ETF saw net positive flows.

This isn’t the first time BlackRock’s products have acted as the anchor for crypto ETF flows. The firm’s iShares Bitcoin Trust, IBIT, has consistently been the dominant force in Bitcoin ETF inflows since launch.

Ethereum ETF assets under management currently sit at approximately $9.78 billion, according to data from SoSoValue and Farside Investors. Bitcoin ETF products have accumulated historical net inflows in the tens of billions, putting them in a different weight class entirely.

Look at the asymmetry in the numbers for context. Bitcoin ETFs lost $4.4 billion over 13 days and gained back $3.05 million. That recovery represents less than 0.1% of what left. Ethereum’s $19.30 million inflow is more meaningful relative to its $9.78 billion AUM, but it still barely moves the needle after 17 days of outflows.

The coordinated nature of both Bitcoin and Ethereum breaking their outflow streaks on the same day suggests the driver was a broader shift in risk appetite rather than an asset-specific catalyst.