A ten-session inflow streak was halted for U.S. Bitcoin ETFs on May 29, as a net outflow of $347 million was recorded. Notably, BlackRock’s fund stood alone in reporting a net inflow during the session.
For the first time in more than two weeks, U.S. spot Bitcoin exchange-traded funds experienced a collective outflow, while a net inflow was reported solely by BlackRock’s fund.
According to CoinGlass, a net withdrawal of $347 million was recorded across all 11 Bitcoin (BTC) ETFs on May 29, breaking a 10-session inflow streak that had persisted since May 13.
This also marks the most significant single-day net outflow since March 11, when a total of $396 million was withdrawn from the ETFs.
Bitcoin experienced a decline of over 3.5% on the day, dropping from an intraday peak of $108,850 to momentarily falling below $105,000, which coincided with the most recent wave of ETF outflows.
The day’s most significant net outflow was recorded by the Fidelity Wise Origin Bitcoin Fund (FBTC), which lost $166 million. The Grayscale Bitcoin Trust (GBTC) followed, with investors withdrawing $107.5 million.
ETFs from Bitwise, Ark 21Shares, Invesco, Franklin Templeton, and VanEck all experienced capital outflows. In contrast, there were no recorded fund movements for CoinShares, WisdomTree, and Grayscale’s mini Bitcoin trust.
The iShares Bitcoin Trust (IBIT) from BlackRock defied the broader market trend by securing a net inflow of $125 million. This marked its 34th straight trading day with positive inflows, with the most recent outflow occurring back on April 9.
Ethereum ETFs Defy the Outflow Trend
Over the last two weeks, nearly $4 billion has flowed into BlackRock’s ETF, bringing its cumulative inflows to $49 billion. The fund’s assets under management have surpassed $70 billion, highlighting sustained investor interest.
In the last five weeks, spot Bitcoin ETFs have attracted over $9 billion in inflows, whereas gold ETFs have experienced nearly $3 billion in outflows, noted Nate Geraci, President of ETF Store, on May 29.
On May 29, spot Ether exchange-traded funds recorded a net inflow of $92 million, defying the broader outflow trend, as reported by Farside Investors.
This marks the 10th straight trading day of inflows, with the most recent outflow having occurred on May 15.
The majority of the inflows were attributed to BlackRock’s iShares Ethereum Trust (ETHA), which added slightly over $50 million, raising its cumulative inflows to $4.5 billion since its launch in July 2024.
Responding to the SEC’s recent clarification that staking does not constitute a securities-related activity, Geraci remarked that it marked “another hurdle cleared for staking within spot ETH ETFs.”
