The United States spot Bitcoin ($BTC) exchange-traded funds (ETFs) have ended their longest losing streak in 2026.
After recording a net cash outflow of $4.367 billion between May 15 and June 3, the U.S. spot $BTC ETFs closed June 4 with a net inflow of approximately $3.05 million, according to data from SoSoValue. As such, the U.S. spot Bitcoin ETFs had $80.40 billion in total assets under management at the time of reporting.
The shift in U.S. spot $BTC ETFs was influenced by BlackRock’s iShares Bitcoin Trust (IBIT). After registering a net cash outflow of roughly $47.66 million. As such, BlackRock’s IBIT held around $49.36 billion in total assets.
Meanwhile, Fidelity Wise Origin Bitcoin Fund (FBTC) reported a net cash outflow of $5.54 million on Thursday, hence hitting 14 consecutive days of losses. At press time, FBTC held assets worth about $11.46 billion.
What’s next for Bitcoin price?
Over the past few years, Bitcoin price has followed the performance of U.S. spot $BTC ETFs. For instance, $BTC price failed to rally above $82,000 last month, leading to a capitulation to around $60,762 on Friday, as U.S. spot $BTC ETFs recorded nearly two consecutive weeks of outflows.
From a technical analysis standpoint, Bitcoin’s price retested its February lows around $60,000 in early June following its capitulation. If U.S. spot $BTC ETFs continue to accumulate more Bitcoin, a potential rebound could emerge. However, if BlackRock’s IBIT leads other spot ETF issuers in distribution, a sell-off to $52,000 could be inevitable, as per analysis shared by Aksel Kibar, an ex-fund manager.