U.S. spot bitcoin ETFs saw $4.5 billion in net outflows in June, their worst month since their launch in January 2024, according to SoSoValue data.
The previous record was $3.48 billion in February 2025. June’s figure beat that figure by 29%.
BlackRock’s IBIT, the largest fund by assets, alone accounted for $3.55 billion of the monthly total, including $212 million as of June 30, the ninth consecutive day of net outflows. Total ETF assets fell to about $71 billion, from about $83 billion at the start of the month.
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Two events could have triggered the sequence. SpaceX debuted on June 12 and in a matter of days absorbed billions in venture capital, with retail purchases on its first trading day breaking all records in a single session and the offering raising $75 billion in total.
Five days later, Kevin Warsh’s first meeting as Fed chairman shifted the focus toward hikes, withdrew rate cuts and gave institutions a reason to reduce their exposure to volatile assets.
