US-listed spot Bitcoin exchange-traded funds (ETFs) posted a record $4.5 billion in net outflows in June, more than three times the $1.25 billion Strategy is authorized to raise through its new Bitcoin monetization program.
The record monthly withdrawals pushed US spot Bitcoin ETFs to roughly $5.5 billion in year-to-date net outflows for 2026, reducing cumulative net inflows since the funds launched to about $51.2 billion, according to SoSoValue data updated on Wednesday.
BlackRock’s iShares Bitcoin Trust (IBIT) accounted for about 79% of June’s withdrawals, posting $3.55 billion in net outflows, according to Farside Investors.
Monthly flows in US-listed spot Bitcoin ETFs. Source: SoSoValue
The figures highlight weakening demand for US spot Bitcoin ETFs, despite much of the market’s attention remaining fixed on developments surrounding the industry’s largest corporate Bitcoin treasury company.
Bitcoin ETF holdings fall below year-ago levels despite higher inflows
According to SoSoValue, cumulative net inflows into US spot Bitcoin ETFs have risen 4.6% from about $49 billion a year earlier. But CryptoQuant data shows the funds now hold less Bitcoin than they did at the same time last year.
“US-based Bitcoin ETF holdings are now lower than at this same day last year,” CryptoQuant’s head of research Julio Moreno wrote on X on Tuesday.
Source: Julio Moreno
Moreno said overall demand for Bitcoin continues to weaken, with total holdings across US spot Bitcoin ETFs falling below 1.25 million BTC.
Related: Swan’s Cory Klippsten sees record Bitcoin holder supply revealing early bottom
ETF withdrawals dwarf Strategy’s Bitcoin plan
Strategy announced its Bitcoin monetization program on Monday as part of a broader capital framework designed to support dividend obligations tied to its preferred securities, a move widely viewed by investors as a response to growing funding pressure within the company’s structure.
Source: Jeff Dorman
The move drew mixed reactions across the community, with some viewing it as financial flexibility while others flagged concerns over the new capital structure’s long-term sustainability and argued it could ultimately sell much more than $1.25 billion.
Strategy’s Class A common stock (MSTR) initially surged as much as 12% to above $90 following Monday’s announcement before reversing course and closing at $86.93 on Tuesday, down 6.2% on the day, according to Yahoo Finance.
Meanwhile, Strategy’s preferred stock (STRC) traded higher at $84.86 on Tuesday, according to Yahoo Finance.
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