Bitcoin · Ethereum · Federal Reserve (FED) · CoinDesk
Bitcoin whales picked up $16.7 billion of bitcoin in 2 weeks even as ETFs bled a record $4 billion
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Large bitcoin holders bought more than 270,000 bitcoin BTC $ 62,612.69 ($16.7 billion) over the past two weeks, stepping in as U.S. institutions pulled money out at a record pace.
Key facts
- U.S. spot bitcoin exchange-traded funds (ETFs) shed $4.06 billion in June, their worst month since listing, past the previous record of $3.56 billion set in February 2025
- Large bitcoin holders bought more than 270,000 bitcoin BTC $ 62,612.69 ($16.7 billion) over the past two weeks, stepping in as U.S. institutions pulled money out at a record pace
- The outflows pushed the funds into the red for 2026 as a whole for the first time, and these products finally recorded a $221 million inflow on Thursday
- May inflation ran hot at 4.2%, but Warsh's comment at the ECB's Sintra forum that inflation risks have eased already gave risk assets a small lift
Summary
U.S. spot bitcoin ETFs saw a record $4.06 billion in outflows in June, pushing them negative for 2026 before a modest $221 million inflow on Thursday. Large bitcoin holders, or whales, accumulated more than 270,000 BTC ($16.7 billion) over the past two weeks even as U.S. spot demand remained weak, a pattern often seen near market cycle lows. While most major cryptocurrencies have slumped alongside bitcoin, Solana has gained about 15% since early June, whereas some Ethereum Layer 2 tokens have sunk to record lows amid shifting technology and fee dynamics. The next U.S. inflation reading, following a hot 4.2% May print, is seen as crucial for the Federal Reserve’s rate path and could reshape the pressure that has weighed on bitcoin this month.