Live markets: U.S. spot bitcoin ETFs had their worst month ever in June, shedding $4.5 billion
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- U.S. spot bitcoin ETFs recorded $4.5 billion in net outflows in June, their worst month since launching in January 2024, per SoSoValue data.
- June's figure broke the previous record of $3.48 billion set in February 2025 by 29%.
- BlackRock's IBIT accounted for $3.55 billion of June's total outflows, including $212 million on June 30 — the fund's ninth consecutive day of net outflows.
- Total spot bitcoin ETF assets fell to roughly $71 billion from about $83 billion at the start of June, a ~14% monthly decline.
- SpaceX debuted on June 12 and within days absorbed billions in risk capital, with retail buying on its first trading day breaking all single-session records and the offering raising $75 billion in total.
- Kevin Warsh's first Fed meeting as chair on June 17 turned the dot plot toward hikes and removed rate cuts from the table, which the source says gave institutions a reason to reduce exposure to volatile assets.
Why it matters: When BlackRock's IBIT — the largest spot bitcoin ETF by assets — accounts for roughly 79% of June's $4.5B in outflows over nine straight sessions of selling, that's not retail panic but a sustained institutional retreat from the dominant bitcoin vehicle, landing just as the Fed's first Warsh-era dot plot killed rate-cut hopes and SpaceX's $75B IPO pulled risk capital into equities.
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