- U.S. Bitcoin ETFs recorded a record 10-day outflow streak, losing nearly $3 billion.
- BlackRock’s IBIT accounted for most withdrawals as institutional demand for Bitcoin exposure weakened.
- HYPE and XRP ETFs attracted fresh inflows, signaling a shift in investor interest.
U.S. spot Bitcoin exchange-traded funds (ETFs) have recorded their longest outflow streak since launching in January 2024. Investors have pulled about $3 billion from the products over ten consecutive trading sessions.
The withdrawals suggest weakening institutional demand for Bitcoin exposure through ETFs. This comes even as broader financial markets continue to rally and newer crypto investment products attract fresh capital.
Bitcoin ETFs See Record Ten-Day Outflow Run
According to data from SoSoValue, U.S.-listed spot Bitcoin ETFs recorded another $125 million in net outflows on Friday. This extended the current redemption streak to ten straight trading sessions.
The ten-day run breaks the previous record of eight consecutive outflow days set in February 2025. Around $2.97 billion has left Bitcoin ETFs during the current streak. However, that figure remains below the $3.2 billion withdrawn during the February selloff.
The outflows began on May 15 and continued throughout the month. Weekly withdrawals rose from about $1 billion in mid-May to $1.26 billion the following week. This week’s outflows have already surpassed $1.3 billion, showing a clear shift in investor sentiment.
Galaxy Research analysts described Wednesday’s $733 million withdrawal as the worst single day of 2026. It was also the fifth-largest daily outflow since spot Bitcoin ETFs launched. The analysts said the recent withdrawals have pushed Bitcoin ETF flows into negative territory for the year.
BlackRock’s IBIT Accounts for Majority of Withdrawals
Most of the selling pressure came from BlackRock’s iShares Bitcoin Trust (IBIT), the largest spot Bitcoin ETF by assets under management.
IBIT recorded about $2.04 billion in cumulative outflows during the ten-day streak. On May 27 alone, the fund saw $527.8 million in withdrawals. That was its second-largest daily outflow on record.
Despite the recent redemptions, IBIT remains the dominant U.S. Bitcoin ETF. The fund held about 794,428 BTC as of Friday’s close. That represents roughly 62% of all Bitcoin held by U.S. spot ETF products.
Bitcoin Struggles While Stocks Reach New Highs
The ETF withdrawals have come during a weak period for Bitcoin. The cryptocurrency has struggled to regain momentum after recent declines. It is trading below $74,000 and is down more than 3.5% over the past month. Bitcoin also lost momentum after failing to hold a breakout above $82,000.
Meanwhile, traditional markets continue to perform strongly. The S&P 500, Nasdaq, Japan’s Topix, and South Korea’s Kospi have all reached new highs. This has created a sharp contrast with crypto market performance.
Analysts believe some investors may be moving capital away from digital assets and into sectors such as artificial intelligence and technology stocks. Strong gains in AI-related companies have helped attract more attention and investment toward equities.
HYPE and XRP ETFs Continue to Attract Capital
While Bitcoin and Ethereum ETFs are seeing steady outflows, newer crypto investment products are showing stronger demand.
Spot HYPE ETFs have attracted more than $100 million in cumulative inflows since launching on May 12. Spot XRP ETFs have also performed well, bringing in about $130 million in net inflows since early May.
This trend suggests some investors are shifting capital away from Bitcoin and Ethereum products. Instead, they are exploring newer crypto narratives and alternative digital assets.
Ethereum ETFs have also struggled. They recorded 14 consecutive days of outflows between May 11 and May 29, with about $720 million withdrawn during that period.
Institutional Appetite Faces Key Test
The record outflow streak is one of the clearest signs yet that institutional demand for Bitcoin exposure has weakened in recent weeks.
Bitcoin ETFs remain a major gateway for traditional investors. As a result, continued withdrawals could serve as an important indicator of market sentiment.
At the same time, growing inflows into HYPE and XRP investment products show that interest in crypto has not disappeared. Instead, some investors appear to be rotating capital into alternative opportunities within the digital asset market.
Related: Why Billions Are Fleeing Bitcoin ETFs While Futures Open Interest Rises
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