Bitcoin ETFs Bleed $1.79 Billion as BlackRock's IBIT Loses 40%

The U.S. spot bitcoin ETFs have seen their second-worst weekly outflow since launch, losing $1.79 billion in net assets for the week ending June 26.

This marks a significant decline in investor confidence, with BlackRock's IBIT fund experiencing an average loss of about 40% for its investors.

The fund's net assets have fallen to $44.42 billion from $60.77 billion attracted since launch, reflecting the impact of bitcoin's price decline on investor returns.

U.S. spot ether ETFs have also recorded a significant outflow, losing $273.34 million for the week ending June 26, marking their seventh consecutive weekly loss.