Institutional Investors Record-Breaking Sales in Bitcoin and Ethereum, and Buying in Two Altcoins! Heres the Latest Data

Bitcoin, which started June above $70,000, experienced sharp declines during the month and fell below $60,000.

The sharp price drops have negatively impacted spot Bitcoin ETFs, and it looks like ETFs will end June with outflows.

According to the data, US spot Bitcoin ETFs have seen outflows of $4 billion so far in June alone, marking a monthly record.

Bitcoin fell as low as $58,000 last week, while ETFs also experienced a net outflow of $1.79 billion.

Last weeks net outflow of $1.79 billion was the second-largest weekly net outflow recorded since the launch of ETFs.

Furthermore, ETFs have continued to experience net outflows for seven consecutive weeks since mid-May. This marks the longest record of consecutive weekly net outflows since the ETFs were launched in January 2024.

Specifically, the largest outflow occurred in BlackRock IBIT. In just one day, $444.51 million flowed out of IBIT, further worsening overall ETF fund flows.

Market analysts suggest that the decline in Bitcoin prices and the US Federal Reserves hawkish monetary policy stance have fueled capital outflows from ETFs.

While the situation in Bitcoin ETFs is deteriorating day by day, spot Ethereum ETFs also experienced a net outflow of $273 million last week, extending the outflow streak to seven consecutive weeks.

Despite outflows from Bitcoin and Ethereum ETFs, spot XRP ETFs saw a net inflow of $22.99 million, and spot HYPE ETFs saw a net inflow of $111 million.