Bitcoin spot exchange-traded funds lost $1.8 billion in the week ending June 26, the second-worst weekly outflow since their January 2024 launch, then shed another $231 million on June 29, totaling $2 billion in redemptions over a fortnight and around $4 billion for the month of June. Analysts say institutional investors have largely held their positions, with selling concentrated among retail investors who entered when brokerages added the ETFs and are now exiting amid a 52% drawdown from Bitcoin's all-time high. The iShares Bitcoin Trust alone has absorbed roughly $62 billion in cumulative inflows since launch, and across all spot Bitcoin ETFs, cumulative net inflows remain above $50 billion even after June's record monthly outflow. The article suggests the current sell-off may present a buying opportunity for patient investors, as the fundamental thesis for Bitcoin remains unchanged.