Overall Outflow Pressure
Bitcoin spot ETFs experienced significant capital exodus on June 29 (EST), with a total net outflow of $231 million, according to data from SoSoValue. Although some products managed to attract fresh capital, BlackRock's IBIT dominated the negative flow, dragging the aggregate figure into red. As of press time, the total net asset value of Bitcoin spot ETFs stood at $73.19 billion, accounting for 6.05% of Bitcoin's total market capitalization. Cumulative net inflows since inception remained at $51.375 billion, pointing to a resilient long-term trend despite short-term volatility.
Divergent Performance Among ETFs
On the inflow side, the ARKB ETF from Ark Invest and 21Shares recorded a daily net inflow of $49.969 million, bringing its historical total to $1.209 billion. Grayscale's GBTC also bucked the outflow trend with a net inflow of $35.1026 million on the day. However, GBTC's cumulative net outflow remains deep at $27.108 billion, a legacy of its earlier discount-driven redemption cycle that continues to weigh on its net position.
In contrast, BlackRock's IBIT posted the largest single-day outflow among all products, shedding $300 million. Despite this, IBIT's historical net inflows remain robust at $60.466 billion, indicating that most holders are maintaining their positions. The sudden outflow may reflect profit-taking or tactical rebalancing by certain institutional investors following recent price moves.
The data underscores a clear divergence in the Bitcoin spot ETF landscape: legacy products like GBTC are gradually stabilizing, emerging funds like ARKB are gaining traction, while the largest product by assets—IBIT—is undergoing a temporary drawdown. Such capital rebalancing warrants close monitoring as it may introduce short-term price pressure on Bitcoin.