Bitcoin ETF inflows had their worst month since launch in June, with ETFs posting over $4.5 billion in outflows.
Spot Bitcoin exchange-traded funds posted their worst month since launch, with $4.51 billion in outflows, undercutting one of Bitcoin’s main cycle-support narratives that ETFs would keep pulling steady institutional money into the market.
SoSoValue data shows June was the worst month for spot Bitcoin ETFs since their January 2024 launch, with $4.5 billion in outflows, topping the previous record outflow of more than $3.5 billion in February 2025.
The selling also came after a weak May, when spot Bitcoin ETFs lost more than $2.4 billion, bringing the two-month drain to almost $7 billion. As analaysts at crypto investment firm Keyrock said in their recent market overview, the “demand engine that absorbed supply all year has stopped buying.”
ETF Assets Slide
The damage was visible beyond monthly flows as data shows cumulative net inflows fell from $55.6 billion at the end of May to around $51.1 billion at the end of June.
Total net assets also declined, falling from $94.1 billion in May to around $70.9 billion in June.
CryptoQuant head of research Julio Moreno said ETF weakness is also showing up in holdings, writing on X that “Bitcoin ETF holdings are now lower than at this same day last year,” adding that overall Bitcoin demand “continues to contract.”
Looking at which funds saw the heaviest selling, the data shows BlackRock posted more than $3.3 billion in net outflows in June, its largest monthly outflow since launch, followed by Fidelity and Grayscale.
And the worse might yet to come as Keyrock’s analysts note that Bitcoin cycle bottom hasn’t clearly arrived yet because Bitcoin hasn’t broken below the key level that marked deeper past bear markets.
Read more: Bitcoin ETFs Lose $7.7B in Seven Straight Weeks — Worst Month on Record
