It's not just bitcoin ETFs. Corporate BTC buying has dried up too

Markets Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email It's not just bitcoin ETFs. Corporate BTC buying has dried up too ETF outflows have dominated the narrative but corporate bitcoin treasuries have gone quiet too, compounding the demand-side weakness. By Omkar Godbole Jun 11, 2026, 5:16 a.m. 2 min read Make preferred on DAT buying has slowed sharply this month. (Adam Smigielski/Unsplash) What to know : Bitcoin’s slide from about $74,000 to below $60,000 has coincided with a sharp pullback in buying from both spot ETFs and corporate digital asset treasuries. While corporate treasury firms remain net bitcoin buyers, their daily purchases have dropped from peaks above $500 million earlier this spring to minimal levels this month, removing a key source of demand. U.S.-listed spot bitcoin ETFs have recorded more than $5.7 billion in net outflows since mid-May. Bitcoin BTC $ 62,545.47 has lost buyers on two fronts. The exodus from spot ETFs as a catalyst for the recent bitcoin price swoon is well documented. Less discussed is the equally steep drop in buying by digital asset treasuries, or firms whose core business is accumulating bitcoin as a treasury asset. "As BTC broke down from the mid-$70Ks toward $60K, net inflows from corporate treasury firms fell sharply, with daily purchases slowing to a fraction of their recent pace," analysts at Glassnode said in the latest market update. "While companies remain net buyers overall, the decline in accumulation suggests this cohort is becoming more cautious, removing another source of marginal demand at a time when broader market sentiment remains weak," they said. Daily purchases by DAT firms, smoothed using a 7-day moving average. (Glassnode) The green and red bars show the dollar value of daily net purchases by digital asset firms since June 2025, smoothed using a seven-day moving average. The DAT demand has pretty much evaporated this month, down significantly from multiple instances of over $500 million in daily accumulation observed through April and May. That partly explains BTC's quick slide from $74,000 to under $60,000 last week. Some analysts believe the sell-off was mainly catalyzed by Strategy, the world's largest publicly listed BTC holder, disclosing that it sold 32 BTC in the final week of May. The firm, however, returned to the market during last week's sell-off, snapping up BTC worth around $100 million. But that failed to keep prices from falling below $60,000. As of writing, bitcoin changed hands at around $62,500. The U.S.-listed spot ETFs remain another major headwind, continuing to bleed capital and reducing the odds of a sustained price rebound. On Wednesday, the 11 funds posted an outflow of $213.85 million, according to SoSoValue. Total redemptions have exceeded $5.72 billion since the second week of May. Bitcoin News More For You XRP holds above $1.10 as ETF inflows rise, but traders remain cautious By Shaurya Malwa 25 minutes ago XRP bounced from recent lows on a late volume surge, though the token continued to lag the broader crypto market as futures traders positioned around key support levels. What to know : XRP is stabilizing above key support around $1.10 but continues to lag the broader crypto market despite modest gains. Institutional inflows into XRP-linked products and a surge in futures trading signal renewed interest, though low open interest shows limited long-term conviction. XRP remains trapped in a broader downtrend below major... Read full story Latest Crypto News XRP holds above $1.10 as ETF inflows rise, but traders remain cautious 25 minutes ago Bitcoin has reached a deep bear-market valuation zone. The hard part may come next. 42 minutes ago Privacy returns to focus as Ethereum developers explore new token standards 11 hours ago BlackRock and Fidelity are quietly turning bitcoin ETFs into a two-firm market 11 hours ago Coinbase-backed Stand With Crypto calls on members to campaign against banks blocking digital asset transactions 11 hours ago Netomi CEO says $5 trillion AI customer experience market could boost stablecoin demand 12 hours ago Top Stories Live updates: bitcoin holding below $62,000 as nervous Nasdaq falls further ahead of SpaceX IPO 23 hours ago Mastercard prepares for a future where AI agents make payments 13 hours ago Prediction markets get first U.S. rule proposal as CFTC pursues contract reviews 15 hours ago Michael Saylor gets into public debate over claims that Strategy's latest share sale was dilutive 15 hours ago A 'Bitcoin DeFi' project just shut down with a brutal post-mortem: Users just didn't care 17 hours ago Elon Musk's SpaceX IPO is four times oversubscribed. A crypto bet tells a more cautious story 21 hours ago In this article BTC BTC $ 62,545.47 ◢ 2.03 %