Spot Bitcoin ETFs lost $1.7 billion to redemptions over the past four weeks. BlackRock’s IBIT accounted for the bulk of the outflows, while Fidelity and Grayscale funds also reported withdrawal activity. The sustained pullback marks the longest continuous redemption period since the funds launched.
The Four-Week Pullback
Investor redemptions hit all three major spot Bitcoin ETFs through the end of last week. The $1.7 billion total represents the largest outflow streak recorded for these products. It wiped out nearly half the net inflows from February’s rally. The pattern held steady throughout the period with consistent daily redemptions.
BlackRock in the Driver’s Seat
IBIT led the exodus with outflows dwarfing other funds. BlackRock’s vehicle has maintained its top position in ETF assets despite the recent outflow run. Its dominance means even small shifts in IBIT’s holdings move the entire market. This week’s redemption pace slowed slightly but remained in negative territory.
Peers Follow the Trend
Fidelity’s FBTC and Grayscale’s GBTC both saw steady withdrawal activity alongside BlackRock. Neither fund reported positive inflows during the four-week stretch. The coordinated pullback suggests broader market concerns rather than fund-specific issues. Grayscale’s outflows continued its pattern of lagging behind the larger players.
What Comes Next
ETF flow data will reset with Tuesday’s market open. Investors watch for reversal signs as June 12’s report becomes critical. A single positive day won’t end the streak, but two consecutive inflow days would signal a shift. The market’s eyes are on Tuesday’s numbers.
