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US spot Bitcoin ETFs hemorrhaged $1.79 billion in net outflows for the week ending June 26, a figure that ranks as the second-largest weekly redemption since these funds debuted in January 2024. The only worse week was the $2.61 billion exodus recorded in late February 2025.
That alone would be notable. But here’s the thing: this wasn’t a one-off panic. It was the seventh consecutive week of net outflows, the longest sustained streak in the entire history of spot Bitcoin ETFs.
The numbers tell a brutal story
The week’s outflows accelerated toward its close, with Thursday posting the heaviest single-day exit at $696.29 million. Friday wasn’t much kinder, with $444.51 million walking out the door, marking a seventh straight day of daily redemptions.
BlackRock’s IBIT led the bleeding. The world’s largest asset manager saw roughly $1.3 billion in redemptions for the week alone, accounting for nearly three-quarters of total outflows across all spot Bitcoin ETFs. Now the average IBIT investor is sitting on unrealized losses of around 40%.
Bitcoin’s price didn’t help
Bitcoin’s price spent the week hovering uncomfortably around the $60,000 level, briefly sliding to approximately $58,126 before recovering to around $60,287. The broader crypto market shed nearly $150 billion in combined value during this period.
What makes this streak different
Previous outflow episodes were sharp but short. The late February 2025 drawdown was larger in absolute terms, but it didn’t persist for seven consecutive weeks.
The concentration of outflows in IBIT is particularly significant. BlackRock’s fund is the largest and most liquid of the spot ETFs, and IBIT flows have historically been a reliable barometer of institutional appetite, and right now that appetite is clearly diminished.
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