US-listed spot Bitcoin ETFs saw their largest daily net outflows in June on Thursday. The withdrawals came as Bitcoin’s price slipped below $60,000.
Spot Bitcoin ETFs lost $696.3 million on that single day. That figure surpassed the prior monthly high of $519.2 million set on June 2, according to data from SoSoValue.
June’s total outflows now sit at $3.61 billion. Year-to-date net outflows have reached $4.6 billion.
ETF assets drop sharply from 2025 peak
The outflows are not happening in isolation. Other signs suggest demand from large institutional buyers is cooling as well.
Strategy, the world’s largest corporate Bitcoin holder, has slowed its accumulation pace in June. This has sparked a debate about whether the company should hoard cash during the downturn instead of buying more Bitcoin.
Total net assets in US-listed spot Bitcoin ETFs have fallen below $73 billion for the first time since late 2024. The decline comes from heavy outflows and a roughly 50% drop in Bitcoin’s price from its October peak.
According to SoSoValue, total net assets in these funds hit a record $169.5 billion in October 2025. As of Friday, that number was around $72.6 billion, a drop of about 57%.
Separate data from WalletPilot shows the funds held a combined 1.24 million Bitcoin as of Tuesday. Over the past month, about 63,500 Bitcoin has left these products.
Strategy reduces Bitcoin buying pace
Strategy’s slower buying in June is drawing criticism from some analysts. They argue the company should pause its Bitcoin purchases and rebuild its cash reserves.
The firm bought roughly 3,600 Bitcoin in June so far. That is down sharply from about 25,000 in May and more than 50,000 in April, based on company filings.
Earlier this month, Strategy even sold a small amount, a net sale of 32 Bitcoin. That is one of the few times the company has sold during its long accumulation period.
The company’s perpetual preferred stock, STRC, has faced pressure. It traded at $75.69 on Thursday, down 6.37% and well below its intended $100 level.
CryptoQuant analysts have raised concerns about Strategy’s timing and risk management. But Bitcoin advocate Samson Mow offered a different view. He said STRC has a “self-repairing mechanism” that activates when the stock trades below its $100 benchmark. At that level, the company pauses new share issuance through its ATM program, which limits new supply.
