Bitcoin ETF Outflows Reach Record $2.8 Billion

Bitcoin's value has dropped as investors withdrew a record $2.8 billion from U.S. spot ETFs over nine sessions, marking the longest outflow streak since January 2024.

Bitcoin has declined amid a record streak of outflows from spot ETFs in the U.S., with investors pulling approximately $2.8 billion over nine trading sessions. This marks the longest series of net outflows since the funds launched in January 2024. (CoinDesk)

The largest pressure came from BlackRock's IBIT. On May 27 alone, the fund lost $527.8 million, followed by another $177.9 million on May 28, and $68.2 million on May 29. The total net outflow for the market on May 29 was $125.3 million. CoinDesk notes that against this backdrop, Bitcoin appeared weaker than stocks in the AI and semiconductor sectors.

Bitcoin ETF Outflows Hit Record $2.8 Billion