The average investor in BlackRock's iShares Bitcoin Trust (IBIT) is now sitting on a loss of approximately 40%, according to data from Bespoke Investment Group. The stark reversal from a 30% gain as recently as mid-2025 underscores the brutal impact of this year's crypto selloff on mainstream buyers who entered through the largest U.S. spot bitcoin ETF by assets. IBIT, which launched in January 2024, rapidly accumulated assets, becoming the sixth-largest ETF by net inflows in 2025, but now holds $44.42 billion in net assets against $60.77 billion in cumulative inflows — a difference of over $16 billion erased by bitcoin's price decline.
Nate Geraci, president of NovaDius Wealth Management, described the situation as "a brutal intro to btc for mainstream investors." The pain is widespread across spot bitcoin ETFs, which posted $1.79 billion in net outflows during the week ending June 26 — the second-worst weekly exodus since the products began trading. Only the $2.61 billion outflow in late February 2025 was larger. This marked the seventh consecutive week of outflows, the longest such streak on record, with $444.51 million leaving IBIT alone on Friday, extending a daily outflow run to seven sessions.
The selling has coincided with a more hawkish Federal Reserve. At its June 18 meeting, the central bank held rates steady but removed easing language from its statement, and traders now price in better-than-even odds of a rate hike in December. Bitcoin traded near $60,750 on Saturday, down more than half from its October 2025 record of $126,272.
Spot ether ETFs also suffered, losing $273.34 million in their seventh straight weekly decline. BlackRock's ETHA — the largest ether ETF by net assets — accounted for the entire $12.85 million outflow on Friday. Ether changed hands around $1,600. While newer funds tied to Hyperliquid, Solana, and XRP saw small inflows, they remain a fraction of the size of bitcoin and ether products, collectively holding about $2 billion against $72.82 billion for bitcoin ETFs and $8.38 billion for ether ETFs.
