Bitcoin ETF Outflows Hit 13-Day Streak, $4.3B Drained: Longest Streak Since Launch
Spot Bitcoin ETFs just clocked their longest outflow streak ever, bleeding $4.3 billion over 13 days. This isn't just a blip; it's a sustained retreat that's pushed year-to-date flows back into the red, signaling a significant shift in institutional sentiment.
The floodgates have opened, and they aren't closing. Spot Bitcoin ETFs have now seen 13 consecutive days of net outflows, a record since their January launch. This sustained drain has pulled a staggering $4.33 billion and 59,351 BTC out of the funds, wiping out April's gains and then some. The intensity is brutal, with 20-day trailing outflows hitting all-time highs in both dollar and BTC terms. Even Ethereum ETFs are feeling the heat, logging 17 straight days of outflows.
This isn't just a minor correction; it's a full-blown retreat. The massive outflows have pushed year-to-date flows into negative territory, a stark reversal from the strong inflows seen earlier in the year. While some top funds like BlackRock's IBIT are still holding onto year-to-date gains, the overall picture is grim. This sustained selling pressure suggests a broad risk-off sentiment is gripping the institutional market.
The question now is whether this outflow streak will continue into June. The answer will be a critical signal for institutional conviction. If the bleeding doesn't stop, expect further pressure on Bitcoin and the broader crypto market. This is the bad times, and traders need to be positioned accordingly.