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Bitcoin ETF News
BlackRock’s IBIT posted $1.34 billion in net outflows last week, the largest weekly redemption the fund has recorded since it launched in January 2024. That single fund’s withdrawals accounted for the bulk of the $1.72 billion in total net outflows reported by US spot Bitcoin (BTC) exchange-traded funds (ETFs) for the same week The combined figure is the largest weekly net outflow for the US spot BTC ETF market since February 2025
Outflows hit the group on four of the five trading days. Thursday was the only exception, when the funds collectively posted a net inflow of $3 million. Every other session during the week saw net redemptions.
A Jobs Report Shifted Institutional Appetite
Andri Fauzan Adziima, research lead at Bitrue Research Institute, identified the May 2026 non-farm payroll report as the primary catalyst behind last week’s activity. The data showed a stronger-than-expected labor market, reducing near-term expectations of a Federal Reserve rate cut. Treasury yields moved higher in response, increasing the relative appeal of fixed-income instruments over non-yielding BTC.
The weekly outflows extended a trend that had already taken shape in May, when US spot BTC ETFs posted $2.43 billion in combined net outflows. A broad risk-off shift driven by geopolitical uncertainty and deteriorating macro conditions added further pressure, spreading acrossdigital assets, AI stocks, technology equities, and gold during the same period.
BTC recovered partially over the weekend of June 7-8, briefly reaching $64,000 before settling near $63,000, accordingto CoinMarketCap. Analysts said the bounce reflected an oversold technical condition rather than any meaningful change in the macro environment that drove the prior week’s 15% decline.
Source: CoinMarketCap
Adziima said he expects ETF flows to remain under pressure in early June. He pointed to three factors that could support a recovery in mid- to late June: a potential bottoming of investor fear, seasonal patterns that have historically favored inflows in the second half of June, and the possibility that a shift in macro conditions could bring sidelined capital back into the market.
The macro backdrop had not materially changed as of June 8. US April job openings data came in near a two-year high, keeping rate hike expectations elevated heading into the summer.
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Source: coinmarketcap.com