US Bitcoin spot ETFs are experiencing their strongest series of outflows since the start of the year. In six sessions, more than $1.55 billion left these funds, sharply reducing their net flows for 2026. This reversal comes as several major Wall Street players are already reducing their exposure to bitcoin, a signal closely monitored by the crypto market.
In brief
- US Bitcoin spot ETFs have just had six consecutive sessions of net outflows, with more than $1.55 billion withdrawn since May 14.
- Cumulative Bitcoin ETF flows for 2026 are falling sharply, while several large institutions are already reducing their exposure to BTC.
- Despite this market slowdown, BlackRock still maintains positive momentum with its IBIT ETF.
- Ethereum ETFs remain in the red and struggle to attract institutional capital, unlike bitcoin.
US Bitcoin ETFs plunge back into the red
American spot Bitcoin ETFs have just had six consecutive days of net outflows, a dynamic that weighs heavily on the sector's annual statistics. In fact, the funds have lost $1.55 billion since May 14.
Net inflows into U.S. spot Bitcoin ETFs are among the primary metrics for measuring the strength of institutional demand for bitcoin.
Here is some key figures :
- $1.55 billion in cumulative outflows since May 14;
- $105.2 million in withdrawals on Friday’s session alone;
- $68.9 million withdrawn from BlackRock's IBIT ETF;
- $36.3 million in outflows on Fidelity’s FBTC;
- Cumulative net flows from US Bitcoin ETFs in 2026 are now just $536 million.
This series of withdrawals has sharply reduced the overall performance of Bitcoin ETFs since the start of the year. Also, several major institutions are adjusting their positions. Jane Street reportedly reduced its exposure to Bitcoin ETFs by around 70% in the first quarter, while Goldman Sachs reportedly reduced its positions by around 10%. This development reflects a more cautious approach by institutional players towards the crypto market.
BlackRock resists while crypto ETFs struggle to convince
Despite this overall slowdown, certain products still maintain positive momentum. Thus, BlackRock's IBIT ETF still shows $2.7 billion in net inflows since the start of the year. This resistance contrasts with the rest of the listed crypto market.
US Ethereum ETFs remain in the red for the year, meaning institutional capital is still primarily focused on bitcoin. At the same time, new products are trying to emerge. The Morgan Stanley Bitcoin Trust ETF (MSBT) attracted $264 million in inflows. This is proof that some investors continue to see Bitcoin ETFs as a strategic entry point into cryptos.
This divergence between the different products above all reveals a change in the selection of institutional investors. The market no longer reacts with the enthusiasm observed during the launch of the first American spot ETFs. Flows are now focused on a few dominant players capable of inspiring more confidence in capital managers. This development could accentuate the dominance of big names like BlackRock in the world of crypto ETFs, while secondary products struggle to capture new capital.
The next few days will be decisive for American Bitcoin ETFs. If this series of net outflows continues, the sector could quickly fall into the red. Such a scenario would revive doubts around the strength of institutional demand for bitcoin, even though these products had largely contributed to supporting the previous rally in the crypto market.
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