ETFs just ripped out $6.35B in 30 days — and BTC still can't find a bottom button 🧊

US spot Bitcoin exchange-traded funds logged their largest 30-day net outflow on record, with $6.35 billion pulled from the products over the trailing 30 trading days, according to Galaxy Research. The figure ranks as the worst across all 582 rolling 30-day windows Galaxy tracks since the funds launched in January 2024, and stretches the streak to six consecutive weeks of net withdrawals. Cumulative net flows across US spot Bitcoin ETFs now sit at $53.4 billion, down from a $63 billion peak in October 2025.

Selling has been uneven across the complex. BlackRock's IBIT absorbed the heaviest damage of the period with about $4.51 billion in outflows over the 30 days, while Morgan Stanley's MSBT bucked the trend with $113.34 million in inflows. Grayscale's higher-fee GBTC has shed roughly $27 billion since launch, compared with IBIT's $62.1 billion in cumulative inflows. IBIT still drives daily swings; on June 18 its $96.7 million redemption outweighed the rest of the complex combined.

The withdrawals have tracked a sharp slide in price. Bitcoin ($BTC) traded near $64,167 at the time of writing, down 17.4% over the past month and roughly 49% below the $126,080 record set on October 6, 2025. The asset fell below $60,000 on Thursday as spot Bitcoin ETFs posted their largest daily net outflows of June at $696.3 million, topping the prior monthly high of $519.2 million set on June 2, according to SoSoValue data. June's total outflows reached $3.61 billion, bringing year-to-date net outflows to $4.6 billion. Total net assets across US spot Bitcoin ETFs have fallen to about $72.6 billion, down roughly 57% from the $169.5 billion record in October 2025, with the funds holding a combined 1.24 million $BTC as of Tuesday after shedding about 63,500 $BTC over the past 30 days, WalletPilot data shows.

Macro and geopolitical pressure has accompanied the drawdown. Rising US inflation, higher Treasury yields, fading expectations for rate cuts, and the ongoing war between the US and Iran have pushed capital toward lower-risk assets. BlackRock US head of equity ETFs Jay Jacobs told Cointelegraph on Thursday that daily outflows can reflect a range of factors, including rotation between products. "What I think is maybe sometimes misunderstood by the market is that if we see a day of outflows, there could be a million reasons why. It could be someone selling IBIT and buying BITA," Jacobs said, referring to the iShares Bitcoin Premium Income ETF (BITA) launched on Wednesday. He added that volatility has not altered BlackRock's long-term view of Bitcoin. "Every asset class has volatility… we have over 450 exchange-traded funds within iShares," Jacobs said. "So we see inflows and outflows every day across a wide range of assets from large cap, small cap, Bitcoin, gold, etc. So in the short term, it's absolutely not something that changes the way we view the asset or the utility of the asset."

The pace of selling has cooled. Weekly outflows fell 87% from their early-June peak, dropping from $1.72 billion in the week ending June 5 to about $226 million last week, according to Farside Investors. Galaxy Research noted that daily outflows are "still deepening day over day," while onchain data from CryptoQuant shows average monthly inflows of $BTC into Binance climbing to 7,600 $BTC, roughly $475 million at press-time prices, up from 3,880 in April. Strategy, the world's largest corporate Bitcoin holder, has also slowed accumulation, buying roughly 3,600 $BTC so far in June after about 25,000 $BTC in May and more than 50,000 $BTC in April, including a net sale of 32 $BTC earlier in the month. Separately, Franklin Templeton filed a proposal with the US Securities and Exchange Commission for the Franklin US Equity Bitcoin DRIP Index ETF, designed to replicate the VettaFi US Large-Cap 500 Bitcoin DRIP Index.