U.S. spot Bitcoin ETFs have seen nearly $3 billion in outflows over 10 days, marking a historic withdrawal period amid market challenges.
Summary
- U.S. spot Bitcoin ETFs faced significant outflows totaling nearly $3 billion over the past 10 days.
- The total assets under management for these ETFs have fallen from $104 billion to $94 billion.
- Despite the downturn, some altcoin ETFs like Hyperliquid and XRP managed to attract investments.
U.S. spot Bitcoin exchange-traded funds (ETFs) have entered an unprecedented phase of withdrawals, with net outflows reaching $2.96 billion over a 10-day span, marking the longest streak of outflows in their history. This trend has pushed the year-to-date flows into negative territory for the first time in 2026.
Since May 15, when these outflows began, assets under management for spot Bitcoin ETFs have plummeted from over $104 billion to about $94 billion, as reported by SoSoValue. This decline has now extended for three consecutive weeks across all digital asset investment products, echoing a similar pattern observed earlier this year.
Analysts at Galaxy Research suggest that the current outflow trend reflects a significant market recalibration rather than just profit-taking, indicating broader issues at play. Total net inflows for the year have decreased from $57 billion to $55.66 billion as the market sentiment turns increasingly bearish.
Market Pressures and Altcoin Activity
The cryptocurrency market is currently grappling with multiple challenges, including geopolitical tensions related to the conflict in Iran, a stable interest rate outlook from the Federal Reserve, and a robust stock market performance. The S&P 500 has been setting new records, recently reaching a high of 7,620, driven by notable gains in AI and semiconductor sectors.
Bitcoin is currently trading around $72,600, reflecting a 1.6% decline and a bearish trend with a 6% drop over the past week. On prediction markets, there is now a 39% chance assigned to Bitcoin potentially falling to $55,000, a significant increase in bearish sentiment compared to earlier in May.
While Bitcoin ETFs are facing substantial outflows, altcoin investments remain focused on a limited number of assets. Only five altcoins are currently attracting capital, down from eleven three weeks ago. XRP leads the inflows with $20.3 million, followed by Hyperliquid at $10.8 million and Near at $7.6 million.
Hyperliquid ETFs have notably seen consistent inflows for 11 days, coinciding with a 15% increase in the underlying token over the past week and a remarkable 74% rise over the last month. Similarly, Near Protocol’s NEAR token has surged by 80% in the same timeframe, driven by updates regarding privacy and AI features.
