- U.S. spot Bitcoin ETFs recorded nine straight days of outflows, the longest streak since their January 2024 launch, with $2.8 billion pulled amid shifting investor sentiment.
- Bitcoin has underperformed broader risk assets, trading around $73,000 while equities hit records.
- Analysts point to profit-taking and competition from AI/tech sectors as key factors.
U.S. spot Bitcoin ETFs have experienced their longest streak of net outflows since launching in early 2024, with approximately $2.8 billion withdrawn over nine consecutive trading days through late May 2026.
This sustained exodus underscores cooling institutional demand for the leading cryptocurrency, even as traditional markets rally on positive geopolitical developments and strong corporate earnings.
According to data compiled by SoSoValue and Bloomberg, the streak began around mid-May, with notable daily outflows including a peak of over $700 million on one session, heavily influenced by BlackRock’s iShares Bitcoin Trust (IBIT). Year-to-date, the ETFs have still accumulated substantial net inflows overall but face pressure from profit realization by early investors.
Bitcoin’s price has hovered near $73,000, down from recent highs above $80,000 earlier in the month, reflecting broader market caution. The cryptocurrency has lagged behind surging U.S. equities and other risk assets, with analysts noting a rotation toward AI and semiconductor stocks.
Glassnode data indicates that current spot demand and ETF inflows lack the momentum needed to push Bitcoin decisively above key levels like its cost basis near $78,000. Long-term holders continue to accumulate, controlling record amounts of BTC, but short-term flows tell a different story.
In related regulatory developments, the CFTC has approved perpetual futures offerings from platforms like Kalshi and pathways for Coinbase, potentially opening new avenues for leveraged trading in the U.S. market. However, these come amid ongoing debates over oversight and retail protection.
Market observers suggest the outflows represent healthy profit-taking rather than a fundamental shift away from Bitcoin, though sustained weakness could test support levels around $70,000.
Disclaimer: This article is for informational purposes only and does not constitute advice of any kind. Readers should conduct their own research before making any decisions.
