Woofun AI reports that U.S. spot Bitcoin exchange-traded funds posted a net outflow of approximately $231 million on June 29, marking the eighth consecutive day of capital withdrawals. This duration represents the longest streak of net withdrawals since the launch of spot Bitcoin ETFs in early 2024. BlackRock's iShares Bitcoin Trust (IBIT), the largest spot Bitcoin ETF by assets under management, led the exodus with a single-day outflow of $300.4 million.

Notably, the aggregate outflow was partially offset by inflows into specific competitors. Ark Invest's ARKB attracted $50 million, while Morgan Stanley's MSBT added $7.3 million. In contrast, other major players faced continued capital flight, with Fidelity's FBTC recording outflows of $3.9 million and Grayscale's Mini Bitcoin Trust losing $22.9 million. VanEck's HODL managed a modest inflow of $3.8 million, and Grayscale's GBTC saw net inflows totaling $35.1 million.

The eight-day outflow streak coincides with Bitcoin trading in a narrow range between $60,000 and $63,000 over the past week. The asset has failed to break above key resistance levels that analysts view as critical for renewed bullish momentum. Institutional investors may be rebalancing portfolios ahead of the end of the second quarter, a period often characterized by increased fund flows as asset managers adjust positions.

Woofun AI data shows that macroeconomic factors, including persistent inflation data and uncertainty around Federal Reserve interest rate policy, have contributed to a risk-off sentiment across digital assets. The prolonged outflow streak does not necessarily indicate a structural decline in institutional interest in Bitcoin, but it does suggest that near-term sentiment has turned cautious. The fact that some funds continue to attract inflows, particularly ARKB and GBTC, indicates that investor conviction remains divided.

Market participants will be watching for signs of a reversal, particularly if Bitcoin's price stabilizes above key support levels or if macroeconomic conditions become more favorable for risk assets. The next few trading sessions will be critical in determining whether this outflow trend deepens or begins to reverse. This eight-day outflow streak reflects a period of cautious institutional positioning amid price consolidation and macroeconomic uncertainty. While the net outflow of $231 million on June 29 is notable, the mixed performance across individual funds suggests that investor sentiment is not uniformly bearish. Continued monitoring of fund flow data will provide clearer signals about the direction of institutional Bitcoin demand in the coming weeks.