BlackRock and Fidelity Drive $5.4Bn June ETF Exodus as Bitcoin Nears $60K

The BlackRock iShares Bitcoin Trust (IBIT) and Fidelity’s Wise Origin Bitcoin Fund (FBTC) drove $539.68M of the $695.79M in net outflows that drained from US spot Bitcoin ETFs on June 25, 2026, one of the largest single-day redemption events recorded since the product category launched in January 2024.

IBIT shed $265.2M, and FBTC lost $274.48M in a session where Bitcoin prices approached $60,000 and only Morgan Stanley’s MSBT posted any inflows, a marginal $9.17M, according to SoSoValue data.

🚨 🇺🇸 BITCOIN ETF OUTFLOWS DEEPEN AS $696M LEAVES IN ONE DAY

U.S. spot Bitcoin ETFs shed $696M on Thursday, extending the outflow run to six straight trading days. Recent ETF data also shows redemptions have become a major drag as Bitcoin trades under pressure near the $58K-$60K…

— Naeem Aslam (@NaeemAslam23) June 26, 2026

The June 25 print does not stand alone. It sits inside a multi-week outflow regime that has now stripped more than $5.4Bn from the US spot Bitcoin ETF complex across four consecutive weeks in June 2026.

This is the worst monthly stretch since the category’s inception, with Mizuho’s trailing-month estimate cited by CNBC placing the cumulative figure closer to $6.6Bn as of that date. IBIT has logged five consecutive weeks of net withdrawals, a stark reversal from the $36.8Bn it attracted across 2024.

BlackRock IBIT and Fidelity FBTC Outflow Mechanics: The $539M Cross-Fund Alignment and What the June Redemption Cycle Reveals

The $695.79M single-day outflow closely follows the largest events of 2026, only trailing an earlier $812.25M loss, where FBTC led with $331.42M in redemptions.

On June 25, FBTC’s $274.48M surpassed its previous contribution, highlighting significant institutional selling in Fidelity’s product. This outflow translates to roughly 11,600 BTC leaving the ETF complex.

Cross-fund data from CoinGlass indicates that the coordinated movement across the BlackRock IBIT product, Fidelity’s FBTC, and other vehicles reflects deliberate institutional repositioning rather than a fund-specific trend.

The June outflow streak surpassed the previous record, while VanEck’s Matthew Sigel termed the exodus exposure-trimming in spot products.

CoinShares’ James Butterfill attributed the outflows to a hawkish Federal Reserve, whale selling, and geopolitical stress, but noted potential recovery in ETF demand once macro conditions stabilize.

Macro Backdrop and Institutional Context: Treasury Yield Pressure and the Rate-Discount Transmission Behind the June Bleed

Today, $10.6 billion in Bitcoin options expire on Deribit the largest quarterly settlement of 2026.
80% of that open interest roughly $8.6 billion is out of the money. Most contracts are heading toward worthless expiry.$Bitcoin is trading below its gamma flip, sitting… pic.twitter.com/el7VKCPswY

— Just_stevin (@just_stevin) June 26, 2026

June’s outflow cycle is linked to the Federal Reserve’s policy changes, with strong US jobs data in May 2026 driving 10-year Treasury yields above 4.5% and 30-year yields briefly over 5%.

CNBC noted that these investors reduced their Bitcoin ETF exposure due to concerns about rising interest rates and market volatility, viewing the sell-off as rational profit-taking rather than panic.

CoinShares data revealed a broader crypto de-risking, with Bitcoin products losing $1.32Bn and Ethereum $308M in a single week.

Total assets under management in global Bitcoin ETFs dropped from about $104Bn to $94Bn in just 10 days, with Grayscale’s GBTC accounting for about $1.2Bn of the early June outflow.

Disclaimer: The author does not hold or have a position in any securities discussed in the article. All stock prices were quoted at the time of writing.