U.S. spot Bitcoin ETFs recorded their second-largest weekly selloff since launch, with investors pulling out $1.79 billion in just one week. The heavy selling came as Bitcoin briefly crashed to $58,126 before recovering to around $60,287, wiping out nearly $150 billion from the overall crypto market.
The biggest blow came on June 25, when spot Bitcoin ETFs recorded another $691.7 million in net outflows. At the same time, Bitcoin dropped to its lowest price of the year at $58,126, wiping nearly $150 billion from the overall crypto market.
Meanwhile, the selling pressure continued through the end of the week, with another $444.5 million leaving Bitcoin ETFs.
What is surprising is that the entire outflow came from BlackRock’s IBIT, with nearly 7,440 BTC exiting the fund in a single day.
The continued outflow has also left many institutional investors sitting on heavy unrealized losses.
U.S. spot Bitcoin ETFs are now holding an estimated $22.42 billion in unrealized losses, based on an average Bitcoin purchase price of around $82,899.
Meanwhile, Strategy, the world’s largest corporate Bitcoin holder, is also facing nearly $19.84 billion in unrealized losses, with an average purchase price of about $75,640.
The weakness in outflow can be seen through the drop in bitcoin demand. Michael Saylor’s Strategy has also sharply slowed its buying pace. The company purchased more than 50,000 BTC in April, followed by around 25,000 BTC in May.
So far in June, however, it has added only about 3,600 BTC.
At the same time, the total assets held by U.S. spot Bitcoin ETFs have dropped from around $170 billion at their 2025 peak to nearly $73 billion today. ETF holdings have also fallen by more than 63,000 BTC over the past month.
Adding to the weak outlook, the Coinbase Premium Index has remained negative, while on-chain data continues to show capital flowing out of the Bitcoin network rather than into it.
Not only Bitcoin, but Ethereum ETFs are also seeing heavy selling pressure. U.S. spot Ethereum ETFs recorded another $273.34 million in weekly outflows, marking their seventh consecutive week of net withdrawals.
The biggest outflow came on June 25, when Ethereum ETFs lost nearly $82 million in a single day. At the same time, ETH fell to around $1,510, wiping out nearly $31 billion from its market capitalization.
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