Foreign media report that as the U.S. stock market's AI sector and expectations for major IPOs heat up, the Bitcoin market has simultaneously weakened, raising a new topic of market concern: whether capital is shifting from crypto assets to tech stocks.
Semiconductor ETFs are clearly attracting significant investment.
The report, citing data, stated that during the first week of June 2026, the four major semiconductor ETFs collectively attracted nearly $3 billion in inflows, bringing their total inflows for the year to approximately $21 billion. In contrast, Bitcoin ETFs have seen notable outflows over the past month.
According to Farside Investors data, since May 20, BlackRock’s Bitcoin ETF has experienced cumulative outflows of nearly $2 billion. This contrast in fund flows has reinforced a growing market perception that AI stocks are diverting capital away from Bitcoin.
IPO expectations for SpaceX and others are heating up
The report mentioned that SpaceX is expected to advance its highly anticipated IPO later this month, followed by Anthropic and OpenAI, which are also believed to potentially enter the public market later this year.
Before the anticipated IPOs of these major tech companies, Bitcoin’s price has recently declined. The article suggests that this timing overlap may indicate some investors are shifting funds from more volatile crypto assets to popular tech stocks in the public markets.
Macroeconomic pressures continue to weigh down.
However, the article also notes that Bitcoin's recent pullback may not be entirely driven by the strength of the AI sector; broader macroeconomic conditions continue to pressure risk assets.
Among these factors, U.S. inflation data came in higher than some market expectations, and employment data weakened market expectations for rate cuts. Amid ongoing geopolitical tensions, these factors could increase selling pressure on Bitcoin.