MarketsShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailBitcoin Faces Pressure as Spot ETF Outflows Reach Record Levels Amid AI-Driven Wall Street Gains
Bitcoin spot ETFs in the U.S. saw a record outflow of $2.97 billion over a span of ten trading days ending Friday, marking the longest streak of outflows ever recorded. The rise in oil prices due to stalled negotiations in Iran has compounded the pressure, despite global equities reaching new heights thanks to the AI sector.
By Shaurya Malwa Jun 1, 2026, 5:11 a.m. 2 min readMake preferred on
Key Highlights:
- Global equities have achieved new records driven by the AI trade, even as increasing oil prices and geopolitical tensions in the Middle East affect overall market sentiment.
- Bitcoin and other leading cryptocurrencies have seen declines in the past week, coinciding with an unprecedented outflow streak of $2.97 billion from U.S. spot bitcoin ETFs and ongoing redemptions from ether funds.
- A notable exception in the digital asset landscape is Hyperliquid’s HYPE token and its newly launched U.S. spot ETF, which have consistently attracted inflows and outperformed the broader crypto market.
The unprecedented outflow of $2.97 billion from spot bitcoin ETFs over ten consecutive days has exerted downward pressure on bitcoin BTC$73,255.63 and the overall cryptocurrency market, even as Wall Street's AI-driven rally has pushed global equities to new records during Asian trading on Monday.
The MSCI All Country World Index increased by 0.2% on Monday, and Asian equities rose by 1.1% to reach an all-time high, with major technology indexes in South Korea, Taiwan, and Japan achieving record levels, according to Bloomberg.
Futures for the Nasdaq 100 climbed by 0.6% after Nvidia announced its entry into the Windows laptop market, posing direct competition to Intel and AMD, while SoftBank Group surged by as much as 11% due to its holdings in OpenAI and Arm, positioning it to become Japan's most valuable publicly traded company.
However, the situation was complicated by the rise in oil prices. Brent crude surpassed $93 a barrel as efforts to resolve issues in the Strait of Hormuz stalled, contributing to lower Treasury yields across the board.
In contrast, the cryptocurrency market did not follow the equity rally. Bitcoin declined by 4.6% over the past week, settling at $73,397, while ether (ETH) also dropped by 4.6% to $1,996. Solana (SOL) fell by 3.7% to $81.89, and TRON's TRX decreased by the same percentage. Meanwhile, DOGE$0.1000 slipped by 1.6%.
According to SoSoValue data, U.S. spot bitcoin ETFs recorded their tenth consecutive day of outflows on Friday, with a total of $2.97 billion exiting between May 15 and May 29. This streak surpassed the prior record of eight consecutive days of outflows set in early 2025, highlighted by a $733 million exit on May 27, the largest single-day outflow since January.
The total net assets of U.S. spot bitcoin ETFs dropped from $104.29 billion on May 15 to $94.17 billion by Friday. Ether ETFs have also experienced a longer outflow streak of 14 days, with about $2.6 billion withdrawn from net assets during the same period.
Hyperliquid's HYPE was a standout performer among the top 10 by market capitalization.
The token surged by 18.7% over the past week to $73.17, and the U.S. spot HYPE ETF, launched on May 12, has seen inflows in every trading session since its inception, raising cumulative net assets to over $122 million by Friday.
The rise in crude oil prices above $93 and the stagnation of the Iran negotiations suggest that the broader market support that crypto was anticipating may not materialize. The ETF inflows that fueled last year's rally have turned negative for ten consecutive days.
More For You
XRP Drops to $1.32 as Sellers Overwhelm Exchange Outflows
By Shaurya Malwa20 minutes agoXRP has fallen to a 15-week low before stabilizing, as traders monitor whether this latest decline will establish a new support level or lead to further losses.
Key Points:
- XRP has declined to a 15-week low around $1.32, with sellers consistently overpowering recovery attempts, even as indicators show tokens are leaving exchanges.
- More than 25 million XRP have been withdrawn from exchanges, and spot XRP ETFs have attracted about $1.42 billion in total inflows, but these accumulation signals have not...