Key Takeaways
- U.S. spot bitcoin ETFs lost $445 million on June 26, a seventh straight day of redemptions.
- Blackrock’s IBIT absorbed nearly the entire bitcoin outflow, its largest single-day exit since launching in 2024.
- Ether ETFs also bled for a seventh day, leaving institutional demand in question heading into July.
A Seventh Straight Day in the Red
U.S. spot bitcoin and ether ETFs both posted their seventh consecutive day of net outflows, per SoSoValue. Spot bitcoin funds saw a combined net outflow of $445 million for the session, capping a stretch that analysts have described as “the worst weekly outflow ever” for the products.
The redemptions coincide with bitcoin trading well below its 2025 highs (currently hovering just above $60,000), with macroeconomic uncertainty and shifting Federal Reserve rate expectations weighing on institutional appetite. Exchange-traded funds remain the clearest single gauge of professional demand, and seven straight sessions of withdrawals point to a cautious posture among large allocators.
The aforementioned figure was not an isolated event, as it extended a multi-week pattern in which spot bitcoin ETFs have repeatedly leaked capital, a reversal from the persistent inflows that defined the funds through much of their first eighteen months.
Blackrock’s IBIT Drives the Exodus
Almost the entire bitcoin outflow flowed from a single product, with Blackrock’s iShares Bitcoin Trust (IBIT) accounting for roughly $444.5 million of the day’s redemptions, while most other spot bitcoin funds reported little to no movement. That made the session one of IBIT’s largest single-day exits since the fund launched in January 2024.
IBIT has become the bellwether for the category, both on the way up and on the way down. Bitcoin.com News earlier reported that Blackrock’s IBIT led a $469 million bitcoin ETF selloff on June 24, the biggest exit in weeks, thereby highlighting once again how concentrated the recent pressure has been in the market’s largest fund.
Because IBIT holds the deepest pool of assets, its flows can swing the entire category’s daily total, magnifying the appearance of strength or weakness depending on the direction of a single issuer’s book.
Ether Funds and the Road Into July
As mentioned earlier, the outflows were not confined to bitcoin as spot ether ETFs also marked a seventh straight day in the red, with Blackrock’s ETHA leading ether redemptions for the session. The dual streak means investor caution is broad rather than asset-specific, hitting the two largest crypto ETF complexes at once.
Analysts have tied the wave to profit-taking after earlier gains this year, combined with uncertainty over the path of U.S. interest rates. None of those pressures resolve neatly, and the funds’ flow data will likely stay the most-watched proxy for whether institutions are stepping back or simply repositioning.
The next test is whether the streak breaks as a new month begins. A single day of inflows would end the run, but a continued bleed into July would deepen questions about how durable institutional demand really is. That said, for the time being, the ETF tape is flashing red, and the market is watching IBIT for the first sign of a turn.
