Bitcoin ETFs saw outflows for the third straight day, totaling $286 million in redemptions, mostly from BlackRock’s IBIT. Conversely, the Ethereum ETF saw inflows for the 11th straight day, attracting $78.17 million.
Bitcoin ETFs see outflows for the third straight day, while Ethereum ETFs continue to gain
The momentum that once drove Bitcoin exchange-traded funds (ETFs) higher appears to have hit a snag. With another $286 million in outflows, Monday, June 2 marked the third day that investors pulled out of the asset class.
BlackRock’s IBIT led the retreat with $130.44 million in outflows, followed by Ark 21Shares’ ARKB (-$73.91 million) and Fidelity’s FBTC (-$50.11 million). Even Grayscale’s GBTC was not immune, shedding $16.47 million. Only Bitwise’s BITB saw modest inflows of $3.41 million, far from enough to turn the tide.
Total volume for Bitcoin ETFs remained strong at $23.3 billion, but net assets fell to $125.47 billion, reflecting cautious investor sentiment.
In stark contrast, Ethereum ETFs continued their impressive rally, seeing net inflows for the 11th consecutive day, this time totaling $78.17 million. BlackRock’s ETHA led the gains with inflows of $48.4 million, while Fidelity’s FETH followed closely behind with inflows of $29.78 million. Ethereum ETFs did not report any outflows. As Ethereum continues to attract new capital while Bitcoin shows signs of profit-taking or rebalancing, this divergence has caught the attention of institutional observers, and the rotation narrative may be gaining traction.
