U.S. spot bitcoin ETFs have experienced a historic 11 consecutive sessions of cash withdrawals totaling around $3.45 billion, coinciding with a rise in AI and semiconductor stocks.
By Sam Reynolds|Edited by Shaurya Malwa Jun 2, 2026, 6:47 a.m. 1 min readMake preferred onKey Points:
- U.S. spot bitcoin ETFs recorded a remarkable 11-day streak of net outflows, amounting to nearly $3.45 billion, as bitcoin’s price approached $70,000.
- The latest withdrawal session saw $484 million leave the funds, aligning with a notable 6% increase in Nvidia’s stock, highlighting a robust investor interest in AI and semiconductor sectors.
- Strategy's recent sale of 32 bitcoin, its first transaction since 2022, along with a slowdown in ETF and corporate treasury purchases, indicates a potential decline in institutional demand that had previously supported bitcoin's price increase.
U.S. spot bitcoin ETFs have faced the largest outflow period on record, with investors withdrawing around $3.45 billion over 11 consecutive trading days as bitcoin's price neared $70,000, as reported by SoSoValue.
This 11-day outflow streak, which commenced on May 15, is the longest since the funds were launched in January 2024, surpassing the previous record of eight days set in February 2025.
Despite this, there remains a strong risk appetite on Wall Street, with Nvidia's stock rising by 6%, and other AI and semiconductor stocks also drawing significant investor interest.
The latest session saw an additional $484 million withdrawn from the funds, contributing to a 4% drop in BTC's price during Asian trading hours.
Additionally, Strategy (MSTR), the largest corporate bitcoin holder, reported on Monday that it sold 32 BTC valued at approximately $2.5 million to support distributions related to one of its preferred stock offerings.
While this sale constituted a minor portion of the company’s total holdings, it was their first bitcoin sale since December 2022, occurring after months of Executive Chairman Michael Saylor advocating for a buy-and-hold strategy.
This action also coincides with other indicators suggesting a decline in institutional demand.
In a recent report, CryptoQuant highlighted that bitcoin is increasingly becoming a market characterized by holders rather than buyers. Furthermore, the slowdown in ETF and corporate treasury accumulation in recent months indicates that the ongoing record outflow streak from ETFs may signify a waning of one of the key demand drivers that bolstered bitcoin's price surge.