Spot bitcoin exchange-traded funds experienced a record $4.5 billion in net outflows in June, marking the worst monthly withdrawal since their 2024 approval. Net outflows from spot bitcoin exchange-traded funds (ETFs) topped $4.5 billion in June 2026, making it the worst monthly withdrawal since their approval in early 2024. For some observers, the $4.5 billion flight was not a minor blip; rather, it was a heavy, coordinated retreat by institutional allocators.