$4 Billion Exit from U.S. Bitcoin ETFs Amid Stagnant Prices

A staggering $4.06 billion has left U.S. spot Bitcoin ETFs in June, marking the largest monthly redemption on record.

This mass exodus of funds is not a one-time event but rather a continuation of a trend that started earlier this month. From May 15 to June 3, there were 13 consecutive trading days of net outflows totaling around $4.4 billion.

The total assets under management (AUM) for Bitcoin ETFs have fallen sharply, dropping from $104.29 billion to approximately $80.40 billion during this period.

BTC's price has also been affected, dipping below the $60,000 handle and trading near $59,940 on June 28. This rare back-to-back quarterly loss could signal a challenging few weeks ahead for the cryptocurrency.