Bitcoin ETFs post 13th straight day of outflows

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Eugene Komchuk

4 hours ago

Bitcoin ETFs post 13th straight day of outflows — Money is leaving Bitcoin ETFs

On Wednesday, spot Bitcoin ETFs recorded $396.6 million in net outflows. Investors have now been withdrawing capital from the funds for 13 consecutive trading days.

According to SoSoValue, investors have pulled about $4.4 billion from the funds since the current streak began. The latest run has surpassed the previous record set in February 2025, when outflows lasted for eight consecutive trading days and totaled around $3.2 billion.

On Thursday, Bitcoin briefly dropped below $63,000. Since the outflow streak began on May 15, the first cryptocurrency has fallen by about 21% — from around $80,000 to $63,400. Analysts point to weakening ETF demand, selling by long-term holders, and miner pressure as possible reasons for the decline.

Which fund leads the outflows

Most of the withdrawals came from BlackRock’s iShares Bitcoin Trust (IBIT). According to Farside Investors, the fund recorded about $3.3 billion in outflows during the 13-day streak. That accounts for roughly 75% of total withdrawals from spot Bitcoin ETFs.

The second-largest outflow came from Fidelity Wise Origin Bitcoin Fund (FBTC), where investors withdrew around $456.6 million. It was followed by Grayscale Bitcoin Trust ETF (GBTC), with outflows of about $303.6 million.

Over the past 30 days, U.S. spot Bitcoin ETFs have lost 51,726 BTC, or nearly $5 billion. As of Tuesday, IBIT held around 786,800 BTC, FBTC held 181,770 BTC, and GBTC held 146,400 BTC.

Outflows hit demand

For Bitcoin, outflows from spot ETFs matter because these funds have become one of the main channels for institutional capital entering the market. When investors buy ETF shares, the funds need to hold Bitcoin against them. When investors withdraw money, that demand disappears, and in some cases, funds may need to reduce their positions. That is why a series of large outflows is seen by the market as a signal that major buyers are no longer ready to support the price at previous levels.

The problem is amplified by the fact that ETFs affect not only actual demand, but also market sentiment. When the funds consistently attract capital, it creates the impression that Bitcoin is backed by stable institutional interest. But when hundreds of millions of dollars regularly leave ETFs, traders start pricing in weaker demand, taking profits, or cutting risk. In that environment, any pressure from miners, long-term holders, or the derivatives market has a stronger impact on the price.

As a reminder, Bitcoin fell amid the largest ETF outflow of 2026.

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