Bitcoin ETFs just set their longest outflow streak since launch

A Record Outflow Run for Bitcoin ETFs

US spot Bitcoin ETFs have now posted ten consecutive trading days of net outflows through May 29, the longest losing streak since the products began trading in January 2024. According to @SoSoValueCrypto data, investors pulled approximately $125 million from the funds on May 29 alone, marking that tenth straight day of withdrawals. Over the full nine-session run through May 28, Bloomberg data showed roughly $2.8 billion had exited the complex, surpassing any previous period of sustained selling pressure.

The week ending May 24 was the sharpest single week of the year, with Bitcoin funds shedding more than $1.3 billion. The worst individual sessions were $733 million on May 27 and $649 million on May 18. BlackRock's iShares Bitcoin Trust (IBIT) bore much of the pressure, recording what CoinDesk reported as its second-largest single-day outflow on record, at approximately $528 million on May 27, driven in part by a large dark-pool block transaction the day prior. Grayscale's GBTC shed $104.76 million and Fidelity's FBTC lost $60.30 million on the same session.

As a result of the sustained redemptions, @SoSoValueCrypto data shows net assets in the Bitcoin ETF complex fell from above $107 billion in mid-May to around $94 billion by May 29. $BTC is now trading near $71,500, well below its cycle high of $126,000.

Ethereum Funds Hit Even Harder

Ethereum ETFs have fared worse on a streak basis. US spot Ethereum funds extended their outflow run to 14 consecutive trading days by May 29, with $17.91 million leaving on that final session alone. Cumulative outflows from Ethereum products reached roughly $694 million over that stretch, according to data tracked by SoSoValue.

Analysts point to a combination of geopolitical tensions, broader macro risk-off positioning, and weaker $BTC price action as the main catalysts behind the institutional retreat. As CoinDesk noted, ETF redemptions require issuers to liquidate the underlying asset, meaning the outflows and price declines have reinforced each other. The May total for Bitcoin ETFs alone came in at $2.43 billion in net outflows, the largest monthly figure of 2026, though cumulative net inflows since the January 2024 launch remain firmly positive at approximately $55.66 billion.

Sources:
Bloomberg: US Bitcoin ETFs Bleed $2.8 Billion in Longest Outflow Streak
CoinDesk: Bitcoin ETF Outflows Reach Record Nine-Day Streak
Crypto Times: US Spot Bitcoin ETFs Post Record 2026 Outflow of $2.43 Billion in May