Overview
- U.S. spot Bitcoin ETFs posted $1.42 billion in net outflows in the final week of May, marking a third straight heavy-outflow week and one of the largest weekly withdrawals on record.
- BlackRock’s IBIT led the exodus with about $966 million in redemptions, and single-day withdrawals reached several hundred million dollars for the largest funds.
- ETF issuers sold roughly 19,021 BTC to meet redemptions, a quantity equivalent to about 42 days of newly mined supply, which fed short-term selling pressure in the spot market.
- Market participants and data providers link the pullback to higher Treasury yields, shifting Fed rate-cut expectations, rising oil and geopolitical uncertainty, which made safer assets relatively more attractive.
- Despite recent outflows, spot Bitcoin ETFs retain about $94.17 billion in assets and roughly $55.66 billion in cumulative inflows since launch, showing continued large-scale institutional adoption even as managers reposition.