Over 1 billion flowed out in June, ETF narratives have begun to backfire, and the liquidity trap is coming faster than expected

CoinWorld news: 99bitcoins reports that U.S. spot crypto ETFs saw outflows of up to $3 billion in a single day. Bitcoin and Ethereum ETFs recorded a combined net outflow of $609.3 million, causing Bitcoin’s price to drop to $65,700 and Ethereum to fall below $1,900. The total Bitcoin outflows in June have already exceeded $1 billion, making it one of this year’s institutional crypto redemption windows. BlackRock’s iShares Bitcoin Trust led the sell-off, with withdrawals of $388.6 million, accounting for nearly 75% of the total Bitcoin ETF redemptions for the day. Analysts say that institutions such as BlackRock, Fidelity, and Grayscale are withdrawing funds from mainstream “legitimate” products that retail investors are being told about, drawing widespread attention in the market.