Week in Numbers
The week ended June 5 delivered a second consecutive billion-dollar redemption cycle for US spot crypto ETFs, with InflowScan data showing $1.66 billion in net outflows — a hair below the prior week's $1.70 billion exit. The two-week tally now stands above -$3.36B ↓, the steepest fortnight of redemptions since the February drawdown.
Bitcoin products did the heavy lifting on the exit side, shedding $1.55 billion. Ethereum funds logged $132 million in net outflows. The two altcoin wrappers told a different story: Solana ETFs registered +$4.2M ↑ and XRP ETFs +$13.2M ↑, small absolute figures but directionally divergent from the major-asset pattern.
Daily Flow Breakdown
The week opened ugly and stayed ugly through Wednesday, with a brief Thursday reprieve before Friday's renewed exit. InflowScan data shows the cadence:
- Monday Jun 1: -$507M ↓
- Tuesday Jun 2: -$609M ↓ — the week's worst session
- Wednesday Jun 3: -$468M ↓
- Thursday Jun 4: +$28.5M ↑
- Friday Jun 5: -$108.8M ↓
Tuesday's $609 million exit aligned with the session that took Bitcoin from the mid-$63,000s toward the $61,000 handle. Thursday's brief positive print failed to mark a turn — Friday's renewed outflows came as BTC slipped through $61,000 and printed a weekly low of $59,070.
ETF Leaderboard
Concentration on the inflow side was thin and dominated by smaller wrappers and altcoin products rather than the flagship BTC vehicles. Top weekly inflows per InflowScan data:
- MSBT (Morgan Stanley): +$35.1M ↑
- SOLT (Volatility Shares): +$7.56M ↑
- GSOL (Grayscale): +$5.75M ↑
- XXRP (Teucrium): +$5.45M ↑
- HODL (VanEck): +$4.2M ↑
Top weekly outflows were spread across issuers, with no single fund accounting for an outsized share — a pattern consistent with broad-based de-risking rather than a single-allocator rebalance:
Price Scorecard
All four majors closed the week down double digits. Bitcoin lost the $60,000 handle late in the week, printing a low of $59,070 before recovering modestly into Friday's close.
- BTC: $73,730 → $60,927 -17.4% ↓ | High $63,958 / Low $59,070
- ETH: $2,004 → $1,581 -21.1% ↓ | High $1,773 / Low $1,539
- SOL: $82.31 → $63.47 -22.9% ↓ | High $69.04 / Low $61.37
- XRP: $1.334 → $1.096 -17.9% ↓ | High $1.175 / Low $1.069
The price-flow alignment was clean: ETH and SOL led the downside in spot, and ETH was the larger of the two in ETF redemption terms. SOL's small positive ETF print against a 22.9% spot decline points to discretionary positioning in the wrappers rather than panic-driven exits — though the absolute dollar size is too small to call a trend.
Stablecoin Pulse
Dry powder shrank rather than built across the week. InflowScan data shows USDT supply at $187.2B, down -$815M ↓ week-over-week, while USDC sits at $75.5B, down -$408M ↓. Combined stablecoin supply contracted by roughly $1.2B as crypto prices fell — a pattern more consistent with capital exiting the on-chain ecosystem than redeploying into sidelined dollar-pegged assets.
FlowScore Check
End-of-week FlowScores per InflowScan data show all four majors below the 50 neutral line, with Bitcoin and XRP in the low 30s — the weakest readings of the four. The ordering inverted the price-decline ranking: SOL led at 40.8 despite the worst weekly price drop, helped by positive ETF inflows. ETH followed at 37.5, BTC at 32.8, and XRP at 31.8. Sub-35 FlowScores have historically been associated with periods of broad ETF outflow pressure rather than imminent reversal — they describe the current regime, not the next one.
Week's Top Stories
- BTC loses $60K handle: coverage focused on the historic support break and estimated $1.2B in liquidations tied to the move through the level.
- Polymarket pricing: intraweek odds priced a 31% probability of BTC reaching $62,000, a betting-market read consistent with the choppy tape around the round number.
- Futures liquidations spike: crypto futures liquidations surpassed $263 million in a single hour during the Wednesday-Thursday volatility window.
- Macro backdrop: Canada's unemployment held at 6.9% in May, gold slid on US-Iran ceasefire optimism, and US jobs data dominated FX desks — a risk-off macro tape that aligned with the crypto exit.
- Single-session decline: BTC fell 3.91% in 24 hours mid-week, dropping below $61,000 USDT.
Closing Read
Two consecutive weeks of $1.6B-plus ETF outflows, combined with stablecoin supply contraction and a lost $60K handle, describe a clean de-risking episode rather than rotation within crypto. The small positive prints in SOL and XRP wrappers are too small to read as a leadership shift. The watch item for the week ahead is whether Thursday's brief flow positive can extend — historically, a two-to-three-session flow reversal has preceded the larger price stabilizations of this cycle, though the sample is small enough that the pattern should not be relied upon.