BlackRock’s IBIT accounted for most of the weekly Bitcoin ETF redemptions, while Fidelity and Grayscale funds also saw outflows.
Spot Bitcoin exchange-traded funds (ETFs) recorded about $1.72 billion in net outflows in the week ending June 5, according to SoSoValue data.
The outflows extended the streak to four straight weeks of billion-dollar redemptions, dating back to the week ending May 15.
Data compiled by Farside Investors shows that the pressure was concentrated across the first three trading days of June, when the funds shed $483.8 million, $519.1 million and $396.6 million, respectively. The ETFs briefly reversed into a $3.2 million inflow on Thursday before Friday's $325.7 million in outflows.
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