Bitcoin ETFs See $1.2 Billion Outflows Amid Price Stagnation

US-listed spot Bitcoin exchange-traded funds (ETFs) have experienced significant outflows, totaling over $1.2 billion, over the past few days. This trend reflects a shift in institutional sentiment as Bitcoin’s price has been hovering around the $105,000 mark without a clear breakout.

Data from SoSoValue indicates that the 12 US-listed spot Bitcoin ETFs saw $268 million in net outflows on June 2 alone. This follows larger exits on May 29 and 30, when the funds collectively lost more than $1 billion. Industry analysts suggest that these outflows are tied to the broader market cooling, as Bitcoin’s price has traded in a tight band over the past week. This has prompted large investors to reduce risk or shift capital to other asset classes, a common behavior during periods of price consolidation where expectations of near-term gains are muted.

BlackRock’s iShares Bitcoin Trust (IBIT), the largest Bitcoin ETF in the US, has not been immune to this trend. However, the outflows have not significantly impacted its position among the country’s top 25 largest ETFs. IBIT currently manages over $72 billion in assets. Bloomberg ETF analyst highlighted IBIT’s rapid rise, noting that at just 1.4 years old, IBIT is the youngest ETF in the top 25, significantly younger than any of its peers.

Despite Bitcoin’s recent price performance, institutional investors in other jurisdictions remain interested in the flagship digital asset. On June 3, Jacobi Asset Management expanded access to its Bitcoin ETF by removing long-standing investment restrictions. The change allows retail investors in Europe to directly invest in the product, following a decision by Guernsey’s regulator to scrap the professional-only classification and minimum capital requirements. Jacobi CEO welcomed the change, saying that the fund was designed from day one with a regulated, institutional-grade structure that investors could trust and were familiar with. He also praised Guernsey’s proactive approach and expressed optimism about the potential to roll out more regulated crypto investment vehicles soon.