Spot Bitcoin ETFs Bleed $1.26 Billion in Worst Weekly Outflow Since January
Spot Bitcoin (BTC) ETFs shed $1.26 billion in the week ending May 23, the steepest weekly outflow since late January, according to The Block. Spot Ethereum (ETH) ETFs extended their losing run to 10 consecutive days of net outflows.
Bitcoin fell roughly 2% over the same period, trading near $75,400 as institutional demand softened.
Spot Bitcoin ETF Outflows Deepen in May
The weekly $1.26 billion net redemption is the largest single-week exit from spot Bitcoin ETFs since the drawdown period that ended in late January 2026. BlackRock’s iShares Bitcoin Trust (IBIT) now holds $61.1 billion in net assets against $64.8 billion in cumulative inflows, a gap of roughly $3.7 billion. That gap reflects mark-to-market losses on unrealized positions as Bitcoin trades below its average ETF entry price for the week.
The ether ETF streak is a separate signal.
Ten straight days of outflows represent the longest consecutive redemption run since spot Ethereum (ETH) ETFs launched in mid-2024. The combined pressure across both asset classes suggests the selling is not isolated to Bitcoin price action alone.
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How We Got Here
Spot Bitcoin ETFs launched in the United States in January 2024 after years of SEC rejections.
The products, which allow investors to gain direct price exposure through a brokerage account without holding the underlying asset, attracted record inflows in their first months of trading. Weekly net inflows crossed $1 billion multiple times through late 2024 and early 2025, driven by institutional allocations and retail demand.
The January 2026 outflow episode was the previous high-water mark for redemptions, triggered by a short-lived macro selloff. The current week’s figure matches and slightly exceeds that level, making it the worst stretch in roughly four months.
BlackRock’s IBIT has consistently held the largest share of spot Bitcoin ETF assets among competing products from Fidelity, Ark Invest, and others.
Its net asset position slipping below cumulative inflows is a closely watched signal because it indicates aggregate investors in the fund are, on balance, underwater.
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What to Watch
The 10-day ether outflow streak will draw attention to whether Ethereum ETF demand can recover before institutional rebalancing cycles reset in early June. For Bitcoin ETFs, the key metric is whether IBIT’s net asset base stabilizes above $60 billion.
A second consecutive week of outflows above $1 billion would mark the first back-to-back episode of that scale since the products launched. Bitcoin’s price holding above $75,000 is the minimum condition most ETF observers cite for stemming the redemption pressure.
The Block’s full report provides a breakdown by issuer.
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