BlackRock’s Bitcoin ETF Sees $3B June Outflows as Bitcoin Falls 18%
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BLK•BlackRock’s IBIT ETF accounted for $3.0 billion of the $4.1 billion withdrawn from US-listed Bitcoin ETFs in June, marking the largest monthly outflow since January 2024. Bitcoin’s price slid over 18% this month to trade near $60,000, weighing on BlackRock’s digital asset business.
In June, US-listed Bitcoin ETFs experienced net withdrawals of $4.1 billion, the largest since their January 2024 launch, with BlackRock’s IBIT fund alone losing $3.0 billion in assets under management.
Bitcoin declined more than 18% in June, trading around $60,000 after breaking below that level last week, prompting defensive positioning by traditional investors reducing crypto exposure.
The steep outflows in IBIT and broader fund withdrawals may erode fee revenue for BlackRock’s digital asset segment, potentially leading to strategic adjustments in product offerings and marketing to stem investor redemptions.
