According to data compiled by SoSoValue, June's hefty withdrawals surpassed the previous record set in February 2025, when outflows reached $3.48 billion. The latest decline represents a 29% increase over that prior benchmark, highlighting a notable shift in investor sentiment.
BlackRock's IBIT, which stands as the largest Bitcoin ETF by assets under management, bore the brunt of these outflows. The fund alone accounted for a staggering $3.55 billion of the monthly total, including a $212 million reduction on June 30th. This marked the ninth consecutive day of net outflows for IBIT, indicating sustained selling pressure from investors.
Collectively, the total assets held across all US spot Bitcoin ETFs have diminished considerably. From approximately $83 billion at the start of June, holdings have now fallen to an estimated $71 billion. This sharp contraction reflects the broader market dynamics impacting the crypto asset class.
Analysts point to at least two pivotal events that likely contributed to this downward trend. The highly anticipated debut of SpaceX on June 12th is believed to have diverted significant risk capital. The aerospace company's initial trading day shattered single-session records for retail buying, with its offering successfully raising a colossal $75 billion. This new investment opportunity may have drawn funds away from more volatile assets like Bitcoin.
Furthermore, five days after SpaceX's launch, the Federal Reserve's first meeting under its new chair, Kevin Warsh, delivered a hawkish surprise. The updated dot plot from the meeting suggested a leaning towards interest rate hikes and effectively removed the prospect of immediate rate cuts from the table. Such a shift in monetary policy typically provides institutions with a compelling reason to reduce their exposure to highly volatile assets, further pressuring digital currency investments.
