Spot bitcoin (BTC) exchange-traded funds in the U.S. saw $4.5 billion in net outflows in June, marking their largest monthly withdrawal since the products launched in January 2024.
According to SoSoValue data, the ETFs reported another day of net outflows on June 30, worth $222.6 million, ending the month in a negative streak that has now extended to nine days.
BlackRock's IBIT, the largest spot bitcoin ETF in net assets, accounted for the largest portion of the outflows, reporting $3.55 billion in outflows this month alone. The combined monthly outflow of $4.5 billion exceeds the previous record outflow of $3.48 billion set in February 2025 by 29%.
"The ETF outflows appear to be driven primarily by a broader macro rotation rather than a deterioration in Bitcoin's long-term fundamentals," Paul Howard, senior director at Wincent, told The Block. "Elevated interest rates, geopolitical uncertainty and a more cautious macro backdrop have encouraged institutions to reduce exposure to higher-volatility assets."
Maxime Seiler, CEO of STS Digital, said that the record outflows stem from a "simple lack of fresh capital" following last year's heavy deployment into bitcoin and ETFs, alongside a significant capital rotation into the SpaceX initial public offering.
