US-listed spot Bitcoin exchange-traded funds recorded $696.3 million in net outflows on June 25 as Bitcoin slipped below the $60,000 mark. This marked the largest single-day withdrawal in June and extended the funds’ losing streak to six consecutive trading days.
The latest outflow pushed June total withdrawals to $3.61 billion and brought year-to-date net outflows to approximately $4.6 billion. The data signals weakening demand from institutional investors as Bitcoin trades near its lowest level of 2026.
ETF activity has become a key focus for market participants. These products previously provided steady buying pressure, but persistent redemptions are now returning coins to the market while investors reassess risk across cryptocurrencies and high-growth tech assets globally.
Bitcoin ETF Withdrawals Accelerate in June
The June 25 outflow surpassed the previous monthly high of $519.2 million recorded on June 2. Second-quarter net withdrawals now stand at roughly $4.07 billion, despite the funds attracting nearly $1.97 billion in April.
Investors withdrew about $2.43 billion in May and another $3.61 billion in June, bringing the combined two-month total to approximately $6.04 billion. Spot Ether ETFs also posted about $81.87 million in outflows on the same day.
BlackRock’s iShares Bitcoin Trust led second-quarter losses with roughly $2.01 billion in net outflows. The fund saw around $4.02 billion in withdrawals across May and June, reducing its net assets to about $44.43 billion. Fidelity’s Bitcoin fund recorded approximately $889 million in second-quarter withdrawals.
ETF Assets Fall as Bitcoin Tests Lower Prices
Total assets held by US spot Bitcoin ETFs dropped to about $72.6 billion, the lowest level since late 2024 and a decline of nearly 57% from the October 2025 peak of $169.5 billion.
The drop coincided with Bitcoin losing roughly half its value from its October high. The cryptocurrency touched a 2026 low near $58,190 on Thursday before recovering toward $60,000.
Separate wallet data shows the ETFs hold about 1.24 million BTC, with roughly 63,500 BTC leaving the products over the past 30 days. This has raised fresh questions about short-term institutional demand. Traders are watching whether daily ETF withdrawals slow near the $60,000 level and monitoring trading volume, derivatives funding rates, and open interest for signs of additional selling pressure.
Strategy Slows Purchases as Funding Questions Grow
Strategy bought about 3,600 BTC in June, down sharply from nearly 25,000 BTC in May and more than 50,000 BTC in April. Company filings also showed a net sale of 32 BTC earlier in the month, an unusual move during its long accumulation campaign.
The company’s STRC preferred stock closed at $75.69 on Thursday, down 6.37% and well below its intended $100 benchmark. Some analysts have questioned whether Strategy should pause Bitcoin purchases and rebuild cash while market prices remain under pressure.
CryptoQuant analysts expressed doubts about the company’s buying schedule and risk controls. Bitcoin supporter Samson Mow offered a different perspective, noting that STRC has a “self-repairing mechanism” when it trades below $100. He said Strategy can stop issuing new shares through its at-the-market program, which limits added supply.
Bitcoin’s near-term direction may depend on whether ETF flows stabilize. Investors are also watching large technology shares, as stronger demand for artificial intelligence stocks has drawn capital away from other assets.