Key facts
- U.S. spot bitcoin ETFs have seen approximately $4.06 billion in net outflows this month.
- This represents the largest monthly redemption since the products launched.
- Last week alone, the funds experienced redemptions totaling about $1.79 billion.
- The outflows in June follow $2.43 billion in net redemptions in May.
- Bitcoin's price has fallen by approximately 30% in the first half of the year.
U.S. spot bitcoin exchange-traded funds (ETFs) have experienced record net outflows totaling approximately $4.06 billion this month, marking the largest monthly redemption since their launch. This significant outflow trend follows $2.43 billion in redemptions in May, bringing the two-month total to nearly $6.5 billion.
Last week alone, these funds saw redemptions of about $1.79 billion, the second-highest weekly outflow recorded since trading began in January 2024. This sustained outflow contrasts with earlier expectations of renewed institutional demand, particularly following SpaceX's IPO on June 12.
Spot ETFs are closely watched as a barometer for institutional investors seeking regulated exposure to bitcoin without direct ownership. The substantial outflows have coincided with a significant decline in bitcoin's price, which has fallen around 30% in the first half of the year, underperforming most major asset classes.