US spot Bitcoin exchange-traded funds have seen their first joint outflow day in over two weeks, with only BlackRock’s fund seeing a net inflow for the day.
The 11 Bitcoin (BTC) ETFs together recorded a net outflow of $347 million on May 29, ending a 10-trading-day inflow streak, which last happened on May 13, according to CoinGlass.
It is also the largest single day of net outflows since March 11, when $396 million in total left the ETFs.
The latest outflows came as Bitcoin sank by more than 3.5% on the day, falling from an intraday high of $108,850 to briefly dip below $105,000.
The Fidelity Wise Origin Bitcoin Fund (FBTC) had the largest net outflow for the day, shedding $166 million, followed by the Grayscale Bitcoin Trust (GBTC), which saw an outflow of $107.5 million.
Bitwise, Ark 21Shares, Invesco, Franklin Templeton and VanEck’s ETFs also saw outflows, while funds from CoinShares, WisdomTree, and Grayscale’s mini Bitcoin trust recorded no flows.
BlackRock’s iShares Bitcoin Trust (IBIT) bucked the trend with a net inflow of $125 million. This brought its consecutive trading day inflow streak to 34 days, with the product last seeing an outflow on April 9.
Related: BlackRock in-house portfolio boosts IBIT Bitcoin ETF exposure by 25%
BlackRock’s ETF has now seen just shy of $4 billion in inflows over the past two weeks, with the total inflow figure reaching $49 billion and assets under management for the fund exceeding $70 billion.
Over the past five weeks, more than $9 billion has entered spot BTC ETFs, while nearly $3 billion has outflowed from gold ETFs, observed ETF Store President Nate Geraci on May 29.
Ether ETFs buck the trend
Meanwhile, spot Ether ETFs also bucked the outflow trend with a net inflow of $92 million on May 29, according to Farside Investors.
This brings the inflow streak to 10 consecutive trading days without an outflow, the last of which was on May 15.
BlackRock’s iShares Ethereum Trust (ETHA) saw the lion’s share of those inflows, with just over $50 million bringing its total to $4.5 billion in inflows since the product launched in July 2024.
Commenting on the recent SEC clarification on staking not being a securities-related activity, Geraci said it was “Another hurdle cleared for staking in spot ETH ETFs.”
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