US Bitcoin ETFs See $347M Outflow After 10-Day Inflow Streak
Bitcoin ETF outflows hit the U.S. market on May 29, ending a ten-day streak of positive inflows. On that day, all 11 major spot Bitcoin ETFs combined for a net outflow of $347 million — the first instance of collective withdrawals since May 13.
According to data from CoinGlass, this was the largest single-day outflow since March 11, when the funds lost $396 million. The dip came as Bitcoin’s price dropped more than 3.5%, falling from a high of $108,850 to briefly touch below $105,000.
BlackRock’s Fund Stands Strong Amid Bitcoin ETF Outflows
Among the ETFs, Fidelity’s Wise Origin Bitcoin Fund (FBTC) reported the largest outflow at $166 million, followed by Grayscale’s GBTC, which lost $107.5 million. Other providers, including Bitwise, Ark 21Shares, Invesco, VanEck, and Franklin Templeton, also saw negative flows. Some smaller funds, such as WisdomTree and Grayscale’s mini Bitcoin trust, recorded no activity.
However, BlackRock’s iShares Bitcoin Trust (IBIT) stood out as the only product to attract a net inflow, pulling in $125 million. This extends its inflow streak to 34 consecutive trading days, with the last outflow occurring on April 9. Over the last two weeks alone, IBIT has seen nearly $4 billion in inflows, bringing total net flows to $49 billion and assets under management above $70 billion.
ETF Store President Nate Geraci highlighted a broader trend, noting that while over $9 billion has entered spot Bitcoin ETFs in the past five weeks, nearly $3 billion has exited gold ETFs during the same period.
Ethereum ETFs Continue Positive Streak
While Bitcoin ETFs faced a setback, Ethereum-based ETFs posted a positive net inflow of $92 million on May 29, according to Farside Investors. This marks 10 straight trading days of inflows, with the last outflow recorded on May 15.
BlackRock’s iShares Ethereum Trust (ETHA) led the charge with over $50 million added in one day. Since its launch in July 2024, ETHA has now accumulated $4.5 billion in total inflows.
Commenting on the market shift, Nate Geraci pointed to the SEC’s recent clarification on staking, saying it was “another hurdle cleared for staking in spot ETH ETFs.”
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