Spot ETFs tracking the two largest cryptocurrencies by market capitalization continued their strong negative streak, ending 7 straight weeks in the red.
The last five trading days have been particularly painful, with Bitcoin spot funds recording their second worst performance in terms of net flows since their launch two and a half years ago.
Bitcoin spot funds are bleeding profusely:
We have discussed the poor performance of Bitcoin spot funds several times on Bitcoin Arabs, but the days leading up to the week ending June 26 brought a glimmer of hope.
Although both remained in the red zone, actual withdrawals were more moderate, reaching $316 million and $227 million, respectively, down from $1.72 billion in the first week of June.
But investors came back and forcefully hit the withdraw button again, withdrawing a total of $1.79 billion from the funds. Thus, the performance of funds has deteriorated in terms of net flows since the end of February 2025, when their number reached $2.61 billion.
Total cumulative net inflows fell to $51.61 billion.
It is worth noting that this figure exceeded $59.30 billion in mid-May, meaning the funds lost around $8 billion in less than two months.
The continued outflows are one of the most obvious reasons for the continued decline in the price of Bitcoin, which a few days ago fell to a new multi-year low of $58,000.
Analysts are convinced that flows must stabilize before Bitcoin has a chance to recover.
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