U.S.-listed spot bitcoin ETFs have seen nearly $4 billion in outflows in June, marking the worst monthly performance on record.
SoSoValue data shows net redemptions totaling $4.06 billion so far this month, eclipsing the previous record of $3.56 billion set in February 2025.
Outflows picked up sharply last week, with about $1.79 billion withdrawn—making it the second-largest weekly outflow since the funds launched in January 2024. Final figures could still shift slightly depending on flows in the final trading sessions.
The heavy selling runs counter to earlier expectations of renewed inflows following SpaceX’s IPO on June 12.
Spot bitcoin ETFs are widely regarded as a key indicator of institutional demand, providing regulated exposure to bitcoin without direct ownership.
June’s outflows follow $2.43 billion in redemptions in May, bringing the two-month total close to $6.5 billion—roughly equivalent to the market value of zcash (ZEC).
So far this year, net outflows have reached around $5 billion in the first half of 2026.
The weakening institutional appetite is reflected in bitcoin’s price, which has dropped about 30% over the same period, lagging most major asset classes. Strategy (MSTR) has performed even worse, with its shares down roughly 45%.
