Bitcoin Spot ETF Outflows Hit $396.6M on June 3 as AI Dominates Market, BlackRock Says

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According to BlackRock digital assets head Robbie Mitchnick on June 22, U.S. spot Bitcoin ETFs recorded significant outflows in recent weeks as artificial intelligence investments draw capital from alternative assets. Bitcoin ETFs saw outflows of $396.6 million on June 3 and $325.7 million on June 5, according to Farside Investors. Mitchnick said the AI boom has redirected investor attention away from Bitcoin, gold, and other non-tech assets, similar to the broader trend affecting markets outside the technology sector since late 2025. Government debt concerns could eventually revive Bitcoin demand as a hedge, he added, with U.S. public debt reaching approximately $31.6 trillion as of June 3.
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