U.S.-listed spot Bitcoin ETFs recorded $231 million in net outflows on June 29, extending their losing streak to eight consecutive trading days and lifting June net redemptions to $4.3 billion, the worst month on record. Earlier reporting had put June outflows at $4.06 billion, already above the previous monthly high of $3.56 billion set in February 2025. The funds also posted $1.79 billion in net outflows during the June 22-26 trading week, with BlackRock’s IBIT leading withdrawals, while some products including ARKB, GBTC and Grayscale Bitcoin Mini Trust BTC still drew inflows. Market observers including Glassnode co-founder Rafael said ETF outflows and limited buying by digital asset treasury companies have left Bitcoin under net supply pressure.