The longest streak of withdrawals since the launch of U.S. spot bitcoin ETFs in January 2024 occurs as bitcoin lags behind soaring AI and semiconductor stocks.
By James Van Straten|Edited by Jamie Crawley May 29, 2026, 10:38 a.m. 2 min readMake preferred on BTC US Spot Flows (Glassnode)Key Points:
- U.S. spot bitcoin ETFs have experienced nine straight trading days of net outflows, the longest such period since their introduction in January 2024.
- Approximately $1.3 billion has been withdrawn this week, continuing a trend of three weeks with net outflows.
- Historical data suggests that prolonged ETF selling often aligns with local bitcoin price bottoms, as indicated by Glassnode's 14-day moving average of flows.
U.S. spot bitcoin ETFs have seen nine consecutive trading days with net outflows, marking the longest withdrawal phase since their launch in January 2024. According to data from SoSoValue, this outflow period has led to a total withdrawal of about $2.8 billion, exceeding previous selling trends.
This week alone, the ETFs have lost around $1.3 billion, extending a three-week streak of net outflows, bringing the monthly total to about $2.3 billion.
The outflows correlate with a significant drop in bitcoin's price, which has decreased from about $80,000 to $73,000 during this timeframe. The downturn in bitcoin's value reflects a broader trend, as it has underperformed compared to other high-performing assets, especially AI-related stocks and semiconductor shares, which have been receiving substantial investment due to rising interest in AI infrastructure.
Indications of institutional selling are also becoming evident. Earlier this week, BlackRock's iShares Bitcoin Trust (IBIT) faced its largest outflow since its inception, primarily due to a substantial dark pool transaction. While the exact reasons for this trade remain unclear, the magnitude of the withdrawal implies that some investors may be shifting their investments away from bitcoin to sectors that are currently yielding better returns.
Historically, sustained ETF outflows have coincided with market stress periods that often signal local price bottoms. Data from Glassnode indicates that the 14-day moving average of ETF flows tends to reach lows during crucial market turning points. Similar trends were observed during the early February correction, when bitcoin dipped toward $60,000, and again in November, when accelerated ETF outflows coincided with bitcoin's retreat from its all-time high near $85,000.
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