The withdrawals followed a sharp BTC price rejection at $107,000, with major outflows reported from Fidelity’s FETH at $172 million.
Despite recent outflows, the broader spot Bitcoin ETF market continues to thrive, amassing over $13.4 billion in inflows year-to-date.
On-chain data shows Binance whales have been putting pressure on BTC price over the past two weeks.
After 15 consecutive days of strong inflows, spot Bitcoin ETFs in the US saw their first major outflows of $342 million on July 1. The recent outflows come as BTC BTC$109 21524h volatility:3.2%Market cap:$2.17 TVol. 24h:$34.47 B
price shows signs of greater weakness following rejection at $107,000.
According to the data from Farside Investors, none of the spot Bitcoin ETF across all US issuers saw any inflows on July 1.
On the other hand, Fidelity Ethereum Fund (FETH) saw more than $172 million in outflows, with Grayscale’s GBTC seeing the second-largest outflows at $119.5 million. Furthermore, Ark Invest’s ARKB, and Bitwise BITB also saw minor outflows of over $20 million, with total outflows leading to $342 million.
Bitcoin ETFs Continue to See Demand
Despite yesterday’s outflows, the overall spot Bitcoin ETF market has thrived throughout this year in 2025, with more than $13.4 billion in inflows. Additionally, the total assets under management (AUM) for this overall category stand at $133 billion.
As we know, BlackRock’s IBIT has been a major contributor to this space, while clocking more than $3.85 billion in inflows just over the last month. Additionally, it is clear that institutional interest in Bitcoin ETFs is strong with Figma’s latest S-1 filing, which shows that the firm holds a massive 70 million shares of Bitwise Bitcoin ETF (BITB). The filing reads:
“On March 3, 2024, the Board of Directors approved an investment of $55.0 million into a Bitcoin exchange-traded fund investment fund operated by Bitwise, Inc.”
The initial investment was made within two months of the SEC approving the first spot Bitcoin ETFs.
BTC Price Faces Strong Selling Pressure
BTC price has been facing strong selling pressure recently and struggling to hold past $107,000 levels. Popular crypto analyst Crypto Patel noted that Binance whales have booked $2.6 billion in profits recently.
On June 16, whale investors on Binance realized $2.6 billion in profits, marking the second-largest profit spike ever recorded on the exchange. The substantial sell-off preceded a sharp correction in Bitcoin price, which fell from $105,800 shortly after the transactions. According to Crypto Patel, Binance alone accounted for more than 57% of total realized profits across all platforms that day.
On June 16, whales on Binance locked in $2.6 billion in profits — the second biggest spike ever on the exchange. Right after that, $BTC dropped hard from $105.8K. Coincidence? Probably not.
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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.