Bitcoin ETF Selloff Tests Institutional Narrative Amid Whales' Defending Market Floor

Crypto exchange-traded funds (ETFs) faced renewed pressure on July 1 after U.S. spot Bitcoin funds posted heavy withdrawals.

According to SoSoValue data, investors pulled capital from major crypto-linked products, with $295 million in net outflows recorded by U.S. spot Bitcoin products.

The largest single-day inflow among Bitcoin funds was Grayscale's Bitcoin Mini Trust, which drew $36.331 million.

Ethereum funds, on the other hand, absorbed $14.895 million in net inflows during the same session, with BlackRock's ETHA leading that category after adding $36.639 million.