Bitcoin ETFs Lose Record $4.5 Billion in June

US-listed spot Bitcoin exchange-traded funds (ETFs) recorded a record $4.5 billion in net outflows during June, a figure more than three times larger than the $1.25 billion Strategy is authorized to raise under its newly announced Bitcoin monetization program.

The heavy withdrawals pushed year-to-date net outflows for US spot Bitcoin ETFs to approximately $5.5 billion in 2026. As a result, cumulative net inflows since the products launched have fallen to around $51.2 billion, according to SoSoValue data updated on Wednesday.

BlackRock’s iShares Bitcoin Trust (IBIT) accounted for the majority of June’s withdrawals, recording approximately $3.55 billion in net outflows, or roughly 79% of the monthly total, according to Farside Investors. The figures point to weakening investor demand for spot Bitcoin ETFs, even as market attention remains focused on Strategy and its corporate Bitcoin accumulation strategy.

ETF Bitcoin holdings continue to decline

Although cumulative net inflows into US spot Bitcoin ETFs remain about 4.6% higher than they were a year ago, the funds now collectively hold fewer Bitcoin than at the same point in 2025. According to CryptoQuant, total holdings across US spot Bitcoin ETFs have fallen below 1.25 million BTC.

“US-based Bitcoin ETF holdings are now lower than at this same day last year,” CryptoQuant head of research Julio Moreno wrote on X. Moreno added that overall demand for Bitcoin continues to weaken, with declining ETF holdings reinforcing the broader slowdown in institutional accumulation.

Strategy’s capital plan draws mixed reactions

On Monday, Strategy unveiled its new Bitcoin monetization program as part of a broader capital management strategy designed to support dividend obligations linked to its preferred securities. The announcement generated mixed reactions across the crypto community. While some investors viewed the initiative as a way to strengthen the company's financial flexibility, others questioned the long-term sustainability of the capital structure and suggested the company could ultimately sell significantly more than the currently authorized $1.25 billion.

Strategy’s Class A common stock (MSTR) initially rallied as much as 12%, climbing above $90 following the announcement. However, the gains quickly reversed, with the stock closing Tuesday at $86.93, down 6.2% on the day, according to Yahoo Finance. Meanwhile, Strategy’s preferred stock STRC posted modest gains, ending Tuesday's session at $84.86.

Sources:

https://cointelegraph.com/news/bitcoin-etf-4-5-billion-outflow-june-worst-on-record

https://x.com/jdorman81/status/2071627503408730566

https://x.com/jjcmoreno/status/2072021533996843141

https://farside.co.uk/bitcoin-etf-flow-all-data/

https://sosovalue.com/assets/etf/us-btc-spot

https://finance.yahoo.com/quote/MSTR/

https://finance.yahoo.com/quote/STRC/