Investors pulled a record $4.06 billion from U.S.-listed spot bitcoin exchange-traded funds in June, according to data from SoSoValue, surpassing the previous monthly high of $3.56 billion set in February 2024. The exodus marks the worst month for the product category since the first such funds began trading in January 2024, raising questions about the durability of institutional appetite for digital assets.
The selling began in mid-May and accelerated through June. From May 15 through June 3, the funds posted 13 consecutive days of net outflows, the longest such streak on record, with roughly $4.4 billion exiting during that period alone, per SoSoValue data cited by Crypto Briefing. For the week ending June 6, net outflows hit $1.72 billion, the largest single-week figure since February 2025. Cumulative withdrawals over the four weeks preceding that reading totaled $5.4 billion, and over six weeks reached $5.94 billion.
After a brief moderation in mid-June, when weekly outflows fell to $316 million and $227 million, selling resumed with force in the final days of the month. The week ending June 26 saw $1.79 billion in net withdrawals, according to CryptoPotato reporting on SoSoValue data.
BlackRock's iShares Bitcoin Trust (IBIT), the largest spot bitcoin ETF by assets under management, bore the brunt of the selling. The fund, which holds roughly 60% of the group's total assets, saw approximately $860 million exit in a single reported week. As of June 26, IBIT held nearly $45 billion in assets and about 743,000 bitcoin, while Fidelity's Wise Origin Bitcoin Fund, the second-largest, held $13.5 billion.
The outflows have been closely tied to bitcoin's price decline. The cryptocurrency slid to a multi-year low of $58,000 in June, trading in a $58,000 to $60,000 range for much of the month. Combined assets under management across all U.S. spot bitcoin ETFs fell from approximately $104 billion, driven by both the redemptions and the shrinking dollar value of remaining holdings, according to Crypto Briefing. Citi Research modeling, cited by Bloomberg, found that for every $1 billion pulled from bitcoin ETFs, prices drop roughly 3.4%, creating a self-reinforcing cycle.
Bitcoin itself is on pace for its worst monthly performance since June 2022, when the collapse of several crypto firms, capped by FTX's implosion, roiled markets. Against this backdrop, Michael Saylor's digital treasury company Strategy recently sold $2.5 million worth of its $50 billion bitcoin hoard.
The June data contrasts sharply with findings from the eighth annual Bitwise/VettaFi 2026 Benchmark Survey of Financial Advisor Attitudes Toward Crypto Assets, which showed crypto allocations by advisors had reached an all-time high. The survey found that 42% of advisors reported the ability to buy crypto directly in client accounts, up from 35% in 2024. However, the recent outflows suggest that enthusiasm may be cooling amid price volatility.
For financial advisors, the record outflows underscore the risks of incorporating bitcoin ETFs into client portfolios, particularly as the asset class remains highly sensitive to price swings. The trend also highlights the challenge of sustaining institutional demand in a market where outflows can amplify price declines. As the SEC continues to probe private equity continuation vehicles amid record GP-led deals, advisors may need to weigh the appeal of alternative investments against the volatility of crypto-linked products.
