Almost 700 million dollars poured out of US Bitcoin ETFs in a single day! What does this signal for the crypto market?

Spot Bitcoin ETFs traded in the United States witnessed their largest daily outflow of June on Thursday, coinciding with Bitcoin’s dip below the 60,000 dollar mark. Data from SoSoValue reveals that investors pulled a net total of 696.3 million dollars from these funds, eclipsing the previous monthly high of 519.2 million dollars, which had been recorded earlier on June 2.

Outflows accelerate in June

With this latest wave of withdrawals, the total net outflow from US spot Bitcoin ETFs reached 3.61 billion dollars for June alone. Looking at the bigger picture, net outflows since the start of the year now stand at 4.6 billion dollars. These figures underscore a growing trend of sell-side pressure within the US spot Bitcoin ETF market in recent weeks.

SoSoValue is a widely recognized data platform that tracks ETF flows across digital asset markets, providing crucial insights into institutional investment trends.

During the same period, the total net asset value of US spot Bitcoin ETFs slipped below 73 billion dollars. This marked the first time since the end of 2024 that the segment has slid beneath this threshold. The rapid withdrawals, paired with Bitcoin’s sharp price drop, put immediate downward pressure on the total size of these funds.

SoSoValue data points out that US spot Bitcoin ETFs peaked at a net asset value of 169.5 billion dollars in October 2025. As of Friday, this figure has shrunk to approximately 72.6 billion dollars—a nearly 57 percent drop from the record high.

Signs of slowing institutional demand

The outflows from ETFs have come in tandem with evidence of waning momentum across other major sources of institutional demand for Bitcoin. Data from WalletPilot shows that the total amount of Bitcoin held by funds stood at 1.24 million BTC as of Tuesday. Over the past month alone, about 63,500 BTC have left institutional products.

This shift is drawing attention not only for its correlation with declining prices, but also for its reflection of changing risk appetite among large-scale investors. Since peaking in October, Bitcoin’s roughly 50 percent retracement has only exacerbated the pressure on the ETF ecosystem.

Strategy eases back on Bitcoin purchases

Strategy, the world’s largest institutional holder of Bitcoin, has also eased its pace of accumulation in June. Company filings indicate that since the start of the month, Strategy acquired around 3,600 BTC—a significant slowdown compared to approximately 25,000 BTC bought in May and more than 50,000 BTC in April.

This deceleration was accompanied by a rare net sale of 32 BTC at the beginning of the month, one of the few such transactions the company has made during its ongoing accumulation campaign. Some analysts argue that in the face of current market weakness, maintaining strong cash reserves has become a prudent move for the company.

Strategy’s perpetual preferred stock STRC has also come under pressure. The stock closed Thursday at 75.69 dollars—well below the targeted 100 dollar level—representing a 6.37 percent daily decline.

Meanwhile, prominent Bitcoin supporter Samson Mow highlighted that a balancing mechanism takes effect for STRC if it falls below the 100 dollar mark. According to Mow, the company limits new share issuance through its ATM program when the stock trades under this level, thereby curbing further supply increases.

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