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 over two weeks, investors pulled funds from U.S. spot Bitcoin exchange-traded funds collectively, while only BlackRock’s fund reported a net inflow.
According to CoinGlass, all 11 Bitcoin (BTC) ETFs saw a net withdrawal of $347 million on May 29, breaking a 10-session inflow streak that had continued since May 13.
This also marks the most significant single-day net outflow since March 11, when investors withdrew a total of $396 million 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 Fidelity Wise Origin Bitcoin Fund (FBTC) posted the day’s most significant net outflow, losing $166 million, while investors withdrew $107.5 million from the Grayscale Bitcoin Trust (GBTC).
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.
BlackRock’s iShares Ethereum Trust (ETHA) accounted for the majority of the inflows, adding slightly over $50 million and 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.”
