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US Bitcoin exchange-traded funds shed $696.3 million in a single day — the biggest daily outflow the products have recorded in June — as Bitcoin ($BTC) dropped beneath the $60,000 threshold.
The move pushed the year-to-date net outflow figure for US Bitcoin ETFs to $4.6 billion, confirming that the cohort as a whole remains in the red since January.
What Actually Happened: Selling, Not Sitting The mechanics matter here.
An ETF outflow means authorized participants are redeeming shares and the fund is unwinding positions — Bitcoin is leaving the wrapper and, in most structures, being sold into the market or returned to liquidity providers.
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