BlackRock Bitcoin ETF Bleeding Intensifies

Bitcoin ETFs Post One of Their Largest Single-Day Outflows

U.S. spot Bitcoin $BTC ETFs recorded $649 million in net outflows on May 18, according to SoSoValue data, marking one of the sharpest single-day withdrawals in recent weeks. BlackRock's IBIT alone accounted for $448.36 million of those redemptions, underscoring how concentrated the selling pressure has become in the market's largest fund.

The daily figure fits into a broader pattern of institutional retreat. U.S.-listed spot Bitcoin ETFs logged $1 billion in net outflows last week, the largest weekly withdrawal since late January. That weekly total ended six consecutive weeks of positive flows, a run that had provided a steady tailwind for $BTC prices through much of April and into May.

Bitcoin slipped below $77,000, giving back its early May advance in a move that marked a 7% decline from its May high of $82,850 and reflected a broader tilt toward risk aversion across digital asset markets. The shift is visible in the Crypto Fear and Greed Index, which fell sharply to 28 in the fear band, compared with an average reading of 48 in neutral territory the prior week.

Ethereum ETFs Extend Their Losing Streak

Spot Ethereum $ETH ETFs also remained under sustained pressure. The funds recorded roughly $86.31 million in net outflows on May 18, marking a sixth straight day of withdrawals and signaling rising caution among large investors amid weakening market sentiment. BlackRock's ETHA accounted for most of the selling pressure, with investors withdrawing nearly $55.4 million during the session. Fidelity's FETH and Grayscale's ETH product also posted sizable exits.

CoinGecko data shows ETH falling to around $2,104, down 9.3% over the past week, erasing Ethereum's April gains and pushing the asset toward its lowest trading level since early April. Despite the near-term pain, the longer-term picture is not entirely bleak. U.S. spot Ethereum ETFs still hold more than $11.75 billion in cumulative inflows since launch, suggesting the recent outflows may represent a short-term defensive move rather than a complete institutional retreat.

For now, the data points to a market in risk-off mode. With both the flagship Bitcoin and Ethereum ETF categories recording consecutive days of net redemptions, attention will turn to whether institutional flows stabilize or continue to deteriorate in the sessions ahead.

Sources:
Ethereum ETFs Lose $86M as Six-Day Outflow Streak Deepens, Crypto Times
Crypto Markets Slip as ETF Outflows Weigh on BTC, ETH, XRP, TradingPedia
BlackRock and Ark Drive $1B Bitcoin ETF Selloff, Bitcoin.com News