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Bitcoin ETFs Lose $1 Billion, Ending Six-Week Inflow Streak
Spot Bitcoin (BTC) exchange-traded funds recorded $1 billion in net outflows, bringing an end to a six-week inflow streak totaling $3.4 billion.
Trading opened cautiously: on May 11, inflows reached $27.29 million, according to SoSoValue data. However, the situation changed sharply on May 12, when investors withdrew $233.25 million. Selling pressure intensified on May 13, with outflows reaching $635.23 million — the highest level during the five-day period.
Daily inflows and outflows in spot Bitcoin ETFs. Source: SoSoValue.
On May 14, the funds recorded $131.31 million in inflows, but on May 15 they lost another $290.42 million.
Prior to this, the funds had posted inflows for six consecutive weeks. The strongest week ended on April 17, when Bitcoin ETFs attracted $996.38 million. By the end of last week, the funds’ combined assets stood at $104.29 billion, while cumulative net inflows across all products reached $58.34 billion.
Weekly inflows into Bitcoin ETFs. Source: SoSoValue.
Capital Flows Into AI and Crypto Assets
Bitunix analysts reported an “aggressive” capital rotation — both into AI-related growth stocks and the “institutionalisation of crypto assets.” NVIDIA, Google, and Apple reached new all-time highs, while AI chipmaker Cerebras surged more than 70% on its IPO debut.
A key Senate committee approved the CLARITY Act, one of the most significant legislative proposals regarding the structure of the US digital asset market. Coinbase shares surged, while Bitcoin returned to the $82,000 level.
Approval of the bill triggered a wave of optimism on social media. Santiment analysts described it as a “burst of euphoria” surrounding Bitcoin.
Investor sentiment indicators surrounding Bitcoin. Source: Santiment.
However, analysts warned that historically, when the ratio of positive to negative comments regarding major cryptocurrencies reaches 1.55 to 1, the market often moves against the expectations of the majority.
In their view, the approval of the CLARITY Act is highly likely to attract new institutional participants to the market — or bring back those who exited previously. This could strengthen demand and push prices higher. Santiment analysts believe many top crypto assets may begin pricing in this scenario even before the law is officially adopted.
Bitunix analysts also remain cautious. According to their estimates, Bitcoin’s current price structure points to market instability. Analysts noted a dense concentration of short positions in the $82,400–82,600 range, while the key support level remains at $80,000.
“The current dynamics indicate that the market has entered a zone of highly leveraged volatility: capital is awaiting further signals regarding three key macro themes — AI development, US-China relations, and cryptocurrency regulation,” the experts stated.
Ethereum ETFs Continue to See Outflows
Spot Ethereum (ETH) exchange-traded funds recorded outflows during all five trading sessions last week. The worst session came on May 12, when the funds lost $130.62 million. This was followed by May 15 with $65.65 million in outflows, May 13 with $36.30 million, May 11 with $16.89 million, and May 14 with $5.65 million.
Total outflows over the five-day period amounted to $254.46 million, while the combined net assets of the funds declined to $12.93 billion.
Inflow and outflow dynamics of spot Ethereum ETFs. Source: SoSoValue.
See also: "Spot XRP ETF Balances Are Changing: Here’s the Latest Situation!"
