U.S. spot bitcoin ETFs recorded $4.5 billion in net outflows in June, their worst month since launching in January 2024, per SoSoValue data.
The previous record was $3.48 billion in February 2025. June’s figure beat that by 29%.
BlackRock’s IBIT, the largest fund by assets, accounted for $3.55 billion of the monthly total alone, including $212 million on June 30, the ninth consecutive day of net outflows. Total ETF assets have fallen to about $71 billion from roughly $83 billion at the start of the month.
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Two events may have set the streak in motion. SpaceX debuted June 12 and within days had absorbed billions in risk capital, with retail buying on its first trading day breaking all single-session records and the offering raising $75 billion in total.
Five days later, Kevin Warsh’s first Fed meeting as chair turned the dot plot toward hikes, took rate cuts off the table, and gave institutions a reason to reduce exposure to volatile assets.