U.S. bitcoin spot ETFs face record outflows of $2.97 billion, impacting BTC prices amid rising oil prices and AI-driven gains in global equities.
Bitcoin spot exchange-traded funds (ETFs) in the U.S. have faced unprecedented outflows, with nearly $2.97 billion exiting over ten consecutive trading days, the longest streak of withdrawals recorded to date. This trend has coincided with a rally in global equities, primarily driven by advancements in artificial intelligence.
Market Dynamics
Despite the rise of global equities, which hit new highs largely due to the AI sector, Bitcoin and other cryptocurrencies have seen declines. The recent outflow from U.S. spot bitcoin ETFs has overshadowed the market, with Bitcoin trading down 4.6% to around $73,397. Ether (ETH) mirrored this decline, also falling by 4.6% to $1,996.
The MSCI All Country World Index saw a 0.2% increase on Monday, while Asian equities surged by 1.1%, reaching all-time highs. Notable gains were observed in major technology sectors in South Korea, Taiwan, and Japan, spurred by Nvidia's entrance into the Windows laptop market.
Geopolitical Factors
However, rising oil prices have complicated the market landscape. Brent crude oil prices surpassed $93 per barrel amid stalled negotiations in Iran, contributing to lower Treasury yields and adding pressure to the overall market sentiment.
In the cryptocurrency realm, the outflows from bitcoin ETFs have surpassed the previous record of eight days set in early 2025. The total net assets of these ETFs plummeted from $104.29 billion on May 15 to $94.17 billion by the end of May 29. Additionally, ether ETFs have experienced a prolonged outflow streak of 14 days, with around $2.6 billion withdrawn.
Amidst these challenges, Hyperliquid’s HYPE token emerged as a strong performer, increasing by 18.7% to $73.17. The recently launched U.S. spot HYPE ETF has consistently attracted inflows, raising cumulative net assets to over $122 million since its inception on May 12.
The ongoing outflows from bitcoin ETFs and the rise in oil prices suggest that the anticipated support for the cryptocurrency market may not materialize in the near term, as the trend of negative inflows continues.
