BlackRock Bitcoin ETF Investors Face 40% Average Loss as Outflows Stretch to Seven Weeks

Investors in BlackRock’s spot Bitcoin exchange-traded fund are sitting on an average unrealized loss of about 40%, according to an analysis cited by The Block.

The Block reported on June 27 that Bespoke Investment Group estimated the average return for investors in BlackRock’s iShares Bitcoin Trust, or IBIT, had fallen to roughly negative 40%.

IBIT has attracted $60.77 billion since its launch in January 2024, but its net assets have fallen to $44.42 billion as Bitcoin prices slid. Nate Geraci, president of NovaDius Wealth Management, called it “a very harsh introduction to Bitcoin investing” for mainstream investors.

US spot Bitcoin ETFs posted total net outflows of $1.79 billion in the week ended June 26. That was the second-largest weekly net outflow since the products launched, behind the $2.61 billion recorded in February 2025.

BlackRock’s IBIT alone saw $444.51 million leave the fund on June 27, extending its streak of net outflows to seven straight trading sessions. Spot Bitcoin ETFs have also posted outflows for seven consecutive weeks since mid-May, the longest losing stretch since launch.

Markets have linked the withdrawals to the Federal Reserve’s hawkish policy stance. The Fed left its benchmark rate unchanged on June 18 while dialing back expectations for monetary easing, and markets are now reflecting the possibility of another rate increase in December.

Spot Ether ETFs also remained under pressure. They recorded $273.34 million in net outflows over the same period, extending their run of withdrawals to seven straight weeks. BlackRock’s ETHA alone posted $12.85 million of net outflows on June 27.

By contrast, some newer crypto ETFs drew fresh money. The Hyperliquid ETF attracted $108.09 million on June 25, its largest daily net inflow since launch, while the XRP ETF brought in $15.63 million. Even so, their overall assets under management remain limited compared with Bitcoin and Ether ETFs.