Institutional investors pulled $609.3M from spot Bitcoin and Ether ETFs in a single session amid price declines.
US spot crypto ETFs recorded $609.3M in net outflows as Bitcoin fell to $65,700 and Ether dipped below $1,900. The two-day total for June now exceeds $1Bn in Bitcoin outflows alone, marking one of the largest redemption periods this year.
BlackRock’s iShares Bitcoin Trust led withdrawals with $388.6M, accounting for nearly 75% of total spot Bitcoin ETF redemptions. The $609.3M outflow represents roughly 1% of the $50Bn accumulated by US spot Bitcoin ETFs since their January 2024 launch.
The outflows reflect institutional selling pressure but do not necessarily signal long-term sentiment shifts. Prior sessions saw similar volatility, though this week’s redemptions rank among the highest of 2024.