U.S. spot Bitcoin ETFs ended a 13-day consecutive net outflow streak on Thursday, recording a single-day net inflow of $3.05 million. This marks the first positive inflow since the launch of these products following the longest period of capital outflows, though the amount of capital returning remains relatively small.
BlackRock's products drive a return to positive territory
According to SoSoValue data, this redemption cycle, lasting nearly three weeks, has withdrawn over $4.4 billion in total. Thursday’s net inflow was primarily driven by IBIT, BlackRock’s fund, which attracted $47.66 million in single-day inflows.
However, certain products from Fidelity, Bitwise, and Ark Invest continue to experience net outflows. Although the overall data has returned to positive, the capital inflow has not been mirrored in the major products.
Asset size has clearly declined from its higher level.
Due to the combined effect of continuous outflows and declining bitcoin prices, the total assets under management of U.S. spot bitcoin ETFs have dropped to $80.4 billion, below the $104.29 billion level before this round of outflows began.
CheckonChain data shows that spot Bitcoin ETFs currently hold a combined total of approximately 1.277 million BTC. This level is slightly above the February low this year but remains about 7.2% below the peak reached in October last year.
The price of Bitcoin also weakened significantly during the same period. On Thursday, BTC traded around $63,800, then dropped to a low of approximately $59,100 during Friday’s session, marking its lowest level since October 2024, before rebounding above $61,000.
Ethereum ETFs show signs of recovery
Spot Ethereum ETFs also ended a streak of outflows. According to SoSoValue data, U.S. spot Ethereum ETFs recorded a net inflow of $19.3 million on June 4, ending a consecutive 17-day period of net outflows.
All net inflows for the day came from BlackRock’s ETHA, while other Ethereum funds remained largely flat. Current spot Ethereum ETF assets under management total approximately $9.78 billion, representing about 4.57% of Ethereum’s circulating market cap.
ETFs related to Hyperliquid continue to attract investment.
Unlike Bitcoin and Ethereum ETFs, which recently saw inflows halt, inflows into Hyperliquid ETFs continue unabated. The three HYPE-themed ETFs collectively attracted $12.15 million on Thursday, extending their uninterrupted net inflows since their listing on May 12.
Among these, Grayscale’s HYPG ETF recorded $4.7 million in inflows on its first trading day. Citi analysts recently noted that the market may be underestimating the impact of changing ETF demand on Bitcoin’s price performance.