Bitcoin ETF outflows hit record US$4.5B

• US spot Bitcoin ETFs recorded a record US$4.5 billion in net outflows during June, lifting year-to-date outflows to about US$5.5 billion.
• BlackRock's iShares Bitcoin Trust accounted for roughly 79% of the monthly withdrawals, while ETF Bitcoin holdings fell below year-ago levels.
• The record outflows exceeded the US$1.25 billion Strategy plans to raise through its new Bitcoin monetisation programme.

US-listed spot Bitcoin exchange-traded funds recorded a record US$4.5 billion in net outflows during June, exceeding the US$1.25 billion Strategy is authorised to raise through its recently announced Bitcoin monetisation programme.

The June withdrawals increased year-to-date net outflows to about US$5.5 billion and reduced cumulative net inflows since the launch of US spot Bitcoin ETFs to approximately US$51.2 billion, according to SoSoValue.

According to Farside Investors, BlackRock's iShares Bitcoin Trust accounted for about US$3.55 billion, or roughly 79%, of June's total net outflows.

CryptoQuant Head of Research Julio Moreno said US spot Bitcoin ETFs now hold less than 1.25 million Bitcoin (CRYPTO:BTC), leaving total ETF holdings below the level recorded at the same time last year despite cumulative net inflows increasing over that period.

Strategy recently introduced a Bitcoin monetisation programme as part of a broader capital management framework designed to support dividend obligations linked to its preferred securities.

Strategy's Class A shares initially rose more than 12% following the announcement before closing 6.2% lower at US$86.93 on Tuesday, while its preferred stock ended the session at US$84.86.

The latest ETF data suggests institutional demand for Bitcoin weakened during June as investors continued reassessing cryptocurrency exposure despite ongoing corporate treasury activity.

At the time of reporting, Bitcoin price was $60,087.03.