US spot Bitcoin ETFs post record $4.5B June outflow
US spot Bitcoin ETFs had a record $4.5 billion net outflow in June, more than three times the $1.25 billion Strategy is authorized to raise under its Bitcoin monetization program.
U.S.-listed spot Bitcoin exchange-traded funds recorded a net $4.5 billion outflow in June, the largest monthly withdrawal on record, according to SoSoValue. The withdrawals pushed the funds to about $5.5 billion in year-to-date net outflows for 2026 and reduced cumulative net inflows since launch to roughly $51.2 billion.
BlackRock’s iShares Bitcoin Trust (IBIT) accounted for about 79% of June’s redemptions, with approximately $3.55 billion withdrawn, Farside Investors reported. The concentration of outflows in the largest ETF amplified the monthly decline.
CryptoQuant’s head of research, Julio Moreno, wrote on X: “US-based Bitcoin ETF holdings are now lower than at this same day last year.” CryptoQuant data show total holdings across U.S. spot Bitcoin ETFs have fallen below 1.25 million BTC.
SoSoValue also reported that cumulative net inflows into U.S. spot Bitcoin ETFs are up about 4.6% from roughly $49 billion a year earlier, showing higher lifetime inflows even as ETFs hold less Bitcoin than a year ago.
Strategy announced a Bitcoin monetization program authorizing up to $1.25 billion in raises as part of a capital framework aimed at supporting dividend obligations tied to its preferred securities. Company management said the program is intended to provide additional capital flexibility.
Investor response to the authorization varied. Some investors saw the program as a financing option, while others raised concerns about the company’s capital structure and the possibility that sales could exceed the $1.25 billion authorization if funding pressures continue.
Market data showed Strategy’s Class A common stock (MSTR) rose as much as 12% to above $90 immediately after the announcement before reversing, closing at $86.93 on Tuesday, down 6.2% for the day. Strategy’s preferred stock (STRC) traded at $84.86.
June’s outflows exceeded by more than three times the amount Strategy is authorized to raise. Since launch, U.S.-listed spot Bitcoin ETFs have accumulated roughly $51.2 billion in net inflows overall, while recent months have seen increased redemption activity and lower aggregate Bitcoin holdings compared with the same time last year.
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