Bitcoin ETFs lose record $4.5B in June, eclipsing Strategy's $1.25B raise

Record Bitcoin ETF Outflows in June

US spot Bitcoin ETFs logged record $4.5 billion in June outflows, pushing year-to-date totals to $5.5 billion, signaling an unprecedented pace of withdrawals.

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.

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.

Strategy's $1.25B Raise and Market Reaction

Related: Swan's Cory Klippsten sees record Bitcoin holder supply revealing early bottom

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.

Magazine: Bitcoin slides to $58K, XRP hits $1 but onchain data promising: Market Moves