Bitcoin ETFs Shed $2.8B in Record-Breaking Nine-Day Streak
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- Bitcoin ETFs recorded $2.8 billion of net outflows over nine consecutive days ending May 28, with the largest single‑day outflow of $733.43 million, driven largely by BlackRock’s IBIT ($527.84 million).
- CryptoQuant reported that whale Bitcoin balances are shrinking year‑on‑year at a pace comparable to the 2022 bear market, indicating reduced large‑holder activity.
- Galaxy Research noted the May 28 outflow was the worst net outflow of the year and the fifth‑worst day on record, pushing year‑to‑date ETF flows into negative territory.
- Coinshares linked the outflow surge to heightened geopolitical risk from the U.S.–Iran conflict, while other analysts cite the AI‑driven rally in U.S. equities as a competing draw for capital.
- Bitcoin fell roughly 5.4 % over the past week, trading below $74,000—a six‑week low—while the S&P 500 reached a record high of 7,568, reflecting capital rotation from crypto to stocks.
Why it matters: Institutional investors lose $2.8B in Bitcoin ETFs as capital shifts to S&P 500 stocks, pushing crypto down to $74k and weakening demand for spot Bitcoin products.
