US spot Bitcoin ETFs saw $1.79 billion in net outflows for the week ending June 26. This marks the second-largest weekly redemption since these funds launched in January 2024.
The period also represents the seventh consecutive week of net outflows, the longest sustained streak in the history of spot Bitcoin ETFs. Outflows accelerated late in the week, with Thursday recording the heaviest single-day exit at $696 million.
BlackRock's IBIT fund accounted for the majority of the damage. Roughly $1.3 billion in redemptions flowed out of IBIT during the week, representing nearly three-quarters of the total outflows across all spot Bitcoin ETFs.
Bitcoin's price action offered no support, hovering around $60,000 and briefly dipping to $58,126. The broader cryptocurrency market lost nearly $150 billion in combined value during the period.
The concentration of outflows in BlackRock's flagship fund is a significant signal. IBIT flows have been a key barometer of institutional sentiment toward Bitcoin, and current patterns indicate a clear decline in appetite.