TheBlock
The average investor in BlackRock's IBIT is down roughly 40%, after sitting on a 30% gain as recently as mid-2025, according to Bespoke Investment Group data reported by Bloomberg. Spot bitcoin ETFs recorded about $1.79 billion in net outflows in the week ending June 26, the second-largest weekly outflow since the funds launched in January 2024.
Friday's $444.51 million net outflow extended the daily outflow streak to seven sessions and capped a seventh consecutive negative week, the longest weekly run on record for the category. The drawdown has fully reversed the trade that worked through most of 2024 and 2025, when IBIT's early cohort rode the ETF from launch to a cycle peak.
Why it matters
The seven-week outflow streak is the structural story, not any single session. Spot BTC ETFs were the channel through which most institutional and advisor allocators accessed bitcoin exposure, and persistent redemptions signal those holders are either trimming risk or rotating out. The 40% underwater mark on the average IBIT investor is the visible scar of that rotation.
Market impact
Spot ether ETFs lost $273.34 million over the same week, their own seventh straight weekly outflow, confirming the move is a broad risk-off in crypto ETF allocations rather than a bitcoin-only event. Hyperliquid funds drew $108.09 million on Thursday, a small counter-flow that points to capital rotating into higher-beta venues rather than exiting the asset class entirely.
Frequently asked questions
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How much are average IBIT investors down?
Roughly 40% as of late June, according to Bespoke Investment Group data reported by Bloomberg, after sitting on a 30% gain as recently as mid-2025.
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How large were last week's spot bitcoin ETF outflows?
About $1.79 billion in net outflows for the week ending June 26, the second-largest weekly outflow since spot BTC ETFs launched in January 2024.
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How long has the spot bitcoin ETF outflow streak lasted?
Seven consecutive sessions of net outflows through Friday, capping seven straight negative weeks, the longest weekly outflow streak on record for the category.
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Did spot ether ETFs also see outflows?
Yes. Spot ether ETFs lost $273.34 million over the same week, their own seventh consecutive weekly outflow, signaling a broad risk-off across crypto ETF allocations.
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Where is the capital rotating?
Hyperliquid funds drew $108.09 million on Thursday, a small but notable counter-flow suggesting some capital is rotating into higher-beta venues rather than exiting crypto entirely.
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