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Bitcoin ETFs lose $3 billion in record 10-day outflow streak as investors shift focus
U.S. spot exchange-traded funds (ETFs) have recorded their longest outflow streak since launching in January 2024. Investors withdrew around $3 billion from these products over ten consecutive trading sessions.
The withdrawals point to weakening institutional demand for Bitcoin exposure through ETFs. This is happening as broader financial markets rise, while new cryptocurrency investment products attract fresh capital.
Bitcoin ETFs post record 10-day outflow streak
According to SoSoValue data, U.S.-listed spot Bitcoin ETFs recorded another $125 million in net outflows on Friday. This extended the current redemption streak to ten consecutive trading sessions.
This 10-day period broke the previous record of eight consecutive days of outflows set in February 2025. Around $2.97 billion has left Bitcoin ETFs during the current streak. However, that figure remains below the $3.2 billion withdrawn during the February sell-off.
Outflows began on May 15 and continued throughout the month. Weekly withdrawals rose from around $1 billion in mid-May to $1.26 billion the following week. This week’s outflows have already exceeded $1.3 billion, pointing to a clear shift in investor sentiment.
Source: SoSoValue
Galaxy Research analysts described Wednesday’s $733 million withdrawal as the worst day of 2026. It was also the fifth-largest daily outflow since spot Bitcoin ETFs launched. The analysts noted that the recent withdrawals pushed Bitcoin ETF flows into negative territory for the year.
BlackRock’s IBIT accounts for most withdrawals
The main selling pressure came from BlackRock’s iShares Bitcoin Trust (IBIT), the largest spot Bitcoin ETF by assets under management.
IBIT recorded around $2.04 billion in cumulative outflows over ten consecutive days. On May 27 alone, the fund posted withdrawals of $527.8 million. This was the second-largest daily outflow in its history.
Source: SoSoValue
Despite the recent redemptions, IBIT remains the dominant Bitcoin ETF in the United States. At Friday’s close, the fund held around 794,428 BTC. That accounts for roughly 62% of all Bitcoin held in U.S. spot ETF products.
Bitcoin struggles while stocks reach new highs
ETF withdrawals came during a weak period for Bitcoin. The cryptocurrency is struggling to regain momentum after recent declines. It is trading below $74,000 and has fallen more than 3.5% over the past month. Bitcoin also lost momentum after failing to hold a breakout above $82,000.
Meanwhile, traditional markets continue to perform strongly. The S&P 500, Nasdaq, Japan’s Topix, and South Korea’s Kospi have reached new highs. This has created a sharp contrast with the performance of the crypto market.
Analysts believe some investors may be redirecting capital from digital assets into sectors such as artificial intelligence and technology stocks. Strong growth among AI-related companies has helped attract more attention and investment into equities.
$HYPE and $XRP ETFs continue to attract capital
While Bitcoin and Ethereum ETFs are seeing steady outflows, newer cryptocurrency investment products are showing stronger demand.
Spot $HYPE ETFs have attracted more than $100 million in cumulative inflows since launching on May 12. Spot $XRP ETFs have also performed well, bringing in around $130 million in net inflows since the beginning of May.
This trend suggests that some investors are shifting capital away from Bitcoin and Ethereum products. Instead, they are exploring newer crypto narratives and alternative digital assets.
Ethereum ETFs are also struggling. They recorded 14 consecutive days of outflows from May 11 to May 29, with around $720 million withdrawn over that period.
Institutional interest faces a key test
The record outflow streak is one of the clearest signs that institutional demand for Bitcoin exposure has weakened in recent weeks.
Bitcoin ETFs remain an important gateway for traditional investors. As a result, continued withdrawals may serve as an important indicator of market sentiment.
At the same time, rising inflows into $HYPE and $XRP investment products show that interest in cryptocurrency has not disappeared. Instead, some investors appear to be directing capital toward alternative opportunities in the digital asset market.
See also: "Bitcoin holds above $73K as CME launches 24/7 trading"
