U.S. Spot Bitcoin ETFs Record 11-Day Outflow Streak, $3.8B Redemptions Through Early June

According to Citigroup analysis, U.S. spot Bitcoin ETFs recorded 11 consecutive days of net outflows through early June, the longest streak since these products launched, with total redemptions reaching approximately $3.8 billion between May 15 and June 2. The three largest single-day withdrawals were $733.4 million on May 27, $519.1 million on June 2, and $483.7 million on June 1, SoSoValue data confirmed.

Total assets under management across U.S. spot Bitcoin ETFs fell from $104 billion to $94 billion during the drawdown. Bitcoin dropped roughly 9.5% over seven days and fell below $67,000, reaching its lowest price since March. Citigroup analyst Alex Saunders noted that ETF flows account for roughly 45% of weekly Bitcoin price variation, identifying this institutional redemption wave as the primary driver of the recent decline.