The U.S. spot Bitcoin ETF ended a 13-day streak of net outflows on Thursday, recording a net inflow of $3.05 million. This marks the first positive return after the longest period of outflows since the product's inception, but the inflow size remains relatively small.
BlackRock products drive positive growth
According to SoSoValue data, this round of redemptions, which lasted for nearly three weeks, has taken away more than $4.4 billion in funds. Thursday's net inflows mainly came from BlackRock's IBIT fund, which attracted $47.66 million in inflows in a single day.
However, some products from Fidelity, Bitwise, and Ark Invest continued to experience net outflows. Although the overall data returned to positive territory, the return of funds did not materialize across the major products.
Asset size has fallen significantly from its peak.
Due to the combined effects of continuous outflows and falling cryptocurrency prices, the total assets of the US spot Bitcoin ETF have fallen to $80.4 billion, down from $104.29 billion before this round of outflows began.
According to CheckonChain data, spot Bitcoin ETFs currently hold approximately 1.277 million BTC. This level is slightly higher than the low point in February of this year, but still about 7.2% lower than the high point reached in October of last year.
Bitcoin prices also weakened significantly during the same period. On Thursday, BTC traded around $63,800, but fell as low as about $59,100 on Friday, the lowest level since October 2024, before rebounding above $61,000.
Ethereum ETFs Rebound in tandem
The spot Ethereum ETF also ended its streak of outflows. SoSoValue data shows that the US spot Ethereum ETF recorded a net inflow of $19.3 million on June 4, ending a previous 17-day streak of net outflows.
All net inflows that day came from BlackRock ETHA, while other Ethereum funds remained largely unchanged. Currently, the spot Ethereum ETF holds approximately $9.78 billion in assets, representing about 4.57% of Ethereum's circulating market capitalization.
Hyperliquid-related ETFs continue to attract funds.
Unlike Bitcoin and Ethereum ETFs, which have just bottomed out, ETFs surrounding Hyperliquid continue to see inflows. Three HYPE-themed ETFs attracted a combined $12.15 million on Thursday, continuing their uninterrupted net inflows since their listing on May 12.
Grayscale's HYPG ETF saw $4.7 million in inflows on its first trading day. Citigroup analysts recently pointed out that the market may be underestimating the impact of changing ETF demand on Bitcoin's price performance.
