U.S. spot bitcoin ETFs recorded $326 million in net outflows on June 5, snapping a short-lived streak of inflows and pushing bitcoin's price down to $59,000. Spot ether ETFs weren't spared either, losing $5.97 million on the same day as ether slid toward $1,500.
Outflows resume after a brief reprieve
Both products had just snapped long outflow streaks earlier this week, giving holders a moment of relief. That turnaround didn't last. The $326 million bitcoin withdrawal marks one of the larger single-day exits this quarter, and it came without any major macro trigger — no Fed surprise, no exchange hack. The market simply started selling again.
Ether funds bleed alongside bitcoin
The $5.97 million outflow from spot ether ETFs is smaller in absolute terms but notable because ether's price is already hovering near $1,500, a level that has acted as both support and psychological pain point. When bitcoin leads down, ether usually follows, and June 5 was no different.
What the price action says
Bitcoin at $59,000 is below the key $60,000 threshold that many traders watch. Ether below $1,500 would put it at levels not seen since late 2024. The outflows suggest institutional money is still risk-off, at least for now. No one is calling a bottom yet — the flows just reversed again.
The next real test will come next week when weekly ETF flow data rolls in. If outflows continue at this pace, bitcoin could test lower support zones. For now, the market is waiting to see if this is another one-off bleed or the start of a longer retreat.
