The June 8-12 trading week marked a fifth straight weekly decline in net flows, with BlackRock's IBIT seeing the largest withdrawal and Fidelity's FBTC leading inflows as some investors were described as rotating toward altcoins.
US spot Bitcoin ETFs recorded a net outflow of $316 million during the June 8-12 trading week, extending the category's run of weekly declines to five. BlackRock's IBIT posted the largest weekly net outflow at $355 million, while Fidelity's FBTC led inflows with $55.70 million. As of publication, total net assets stood at $79.65 billion and cumulative net inflows reached $53.62 billion, according to SoSoValue. The newer report said the weakness coincided with institutional investors appearing to reallocate toward altcoins such as XRP and HYPE, though that characterization was presented as an interpretation of the flow data.