WuBlockchain
Bitcoin spot ETFs shed $484 million in net outflows on June 1, according to SoSoValue data, extending a streak that now stands at 11 consecutive days of net negative flow. Ethereum spot ETFs added to the pressure with $44.44 million in outflows on the same day, their own streak now at 15 consecutive days.
Why it matters
Double-digit consecutive outflow streaks across both BTC and ETH spot ETFs signal that institutional sellers are not just taking profits on individual sessions — they are systematically reducing exposure. The ETH streak at 15 days is particularly notable: it predates the current BTC run by four sessions, suggesting the rotation out of crypto ETF wrappers began in Ethereum before spreading to Bitcoin. When both major spot ETF products bleed simultaneously, the structural bid that drove the 2024 ETF launch euphoria is visibly absent.
Market impact
Cumulative outflow pressure of this duration typically weighs on spot price by removing a key marginal buyer. Traders should watch whether the BTC streak extends past two weeks — historically, streaks of that length have coincided with broader risk-off repositioning rather than simple profit-taking. A reversal in ETH outflows, given its longer streak, would be the earliest leading indicator that institutional appetite is returning.
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