Key Points
- U.S. spot Bitcoin ETFs experienced a significant reversal with $346.8M net outflows after a 10-day $4.26B inflow streak.
- BlackRock’s iShares Bitcoin Trust (IBIT) defied the trend with $125M net inflows, extending its 34-day streak.
After a robust 10-day period of consistent inflows exceeding $4.26 billion, U.S. spot Bitcoin ETFs encountered a sharp turnaround with $346.8 million in net outflows, according to Farside Investors.
This signifies the most substantial daily withdrawal since March 11th, indicating a resurgence of investor caution.
Bitcoin ETF Inflows Streak Ends
On a day characterized by significant outflows from U.S. spot Bitcoin ETFs, Fidelity’s Wise Origin Bitcoin Fund (FBTC) led the departure with $166 million withdrawn.
This was closely followed by Grayscale’s GBTC, which experienced $107.5 million in net redemptions.
Other funds, including those from Bitwise, Ark 21Shares, Invesco, Franklin Templeton, and VanEck, also saw capital flight.
However, BlackRock’s iShares Bitcoin Trust (IBIT) bucked the broader market trend by attracting $125 million in net inflows.
This continued its remarkable 34-day run of daily inflows, with its total inflow approaching $49 billion and assets under management now exceeding $70 billion.
Ethereum ETF Continues to Attract Investors
In contrast to the recent downturn in Bitcoin ETF flows, spot Ethereum ETFs maintained investor interest, recording $92 million in net inflows on May 29th alone.
BlackRock’s iShares Ethereum Trust (ETHA) noted more than $50 million in new inflows, raising its total to $4.5 billion since its launch in July 2024.
Nate Geraci, President of ETF Store, observed that this activity aligns with a broader trend, as over the past five weeks, Bitcoin ETFs have attracted more than $9 billion, while gold ETFs have seen nearly $3 billion in outflows.
The recent market correction, which saw Bitcoin’s price drop from $111K to approximately $105,615, may be driving the shift in ETF momentum.
The evolving market cycle seems to be increasingly influenced by growing institutional participation, especially following the approval of U.S. spot Bitcoin ETFs in early 2024.
This change has altered investor sentiment and market dynamics.
CryptoQuant founder Ji Young Ju reflected on a misjudged bear market prediction made in early 2025, only to see Bitcoin reach a new all-time high just two months later.
In his words, “It feels like it’s time to throw out that cycle theory. New liquidity sources and volume are becoming more uncertain, signalling a transition as the Bitcoin market merges with TradFi.”
