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U.S. spot bitcoin ETFs have recorded $4.06 billion in net outflows in June, on course for the largest monthly redemption since the products launched in January 2024, according to SoSoValue data.
The figure surpasses the previous monthly record of $3.56 billion set in February 2025, with two trading days still remaining in the month.
Bitcoin ETF Outflows Deepen After $2.43B May Redemption Wave
Last week alone, the funds shed roughly $1.79 billion, the second-highest weekly outflow on record. BlackRock’s IBIT led single-session outflows on June 26, recording $445 million in net redemptions in one day despite holding a cumulative historical inflow of more than $60 billion since launch.
June’s selling followed $2.43 billion in net redemptions in May, bringing the two-month combined total to nearly $6.5 billion. On a year-to-date basis, net outflows now tally roughly $5 billion, pushing 2026 cumulative flows into negative territory for the first time, a milestone confirmed by Bloomberg ETF analyst Eric Balchunas.
ETF Redemptions Rise as Equities and AI Trades Compete for Capital
The macro backdrop has added consistent pressure through the month. A reaccelerating U.S. inflation print in May, along with the Federal Reserve holding rates at 3.5% to 3.75% and S&P 500 levels above 7,500, provided institutional investors with alternatives that offered better near-term returns than bitcoin-linked products.
Consequently, the scale of redemptions suggests that institutional sentiment has turned sharply more cautious.
Equity-focused ETFs have attracted significant inflows this year as investors rotated toward AI and semiconductor names. That dynamic has left crypto ETFs competing for a smaller share of overall risk appetite, with little in the near-term macro picture to reverse the trend.
Bitcoin Down 30% as ETF Demand Collapses
The impact is visible in bitcoin’s price. The token has declined around 30% in the first half of 2026, putting it on track for a second consecutive quarterly loss, only the third time in bitcoin’s history that has occurred. Strategy shares have fallen further, down roughly 45% over the same period.
Total net assets across U.S. spot bitcoin ETFs stood at approximately $72.8 billion as of June 26, representing about 6.1% of bitcoin’s total market capitalization.
