Bitcoin ETF Exodus: Is the Rally Losing Steam?

Bitcoin ETFs Suffer, Ether ETFs Shine

Bitcoin ETF– U.S. spot Bitcoin exchange-traded funds (ETFs) recorded a significant shift on May 29, posting their first collective net outflow in over two weeks. According to CoinGlass, the 11 Bitcoin ETFs registered a combined outflow of $347 million, breaking a 10-day streak of continuous inflows—the last such outflow occurring on May 13.

This marks the largest single-day outflow since March 11, when $396 million exited Bitcoin ETF products. The outflow coincided with a more than 3.5% drop in Bitcoin’s price, which slipped from a daily high of $108,850 to briefly fall below $105,000.

Fidelity’s Wise Origin Bitcoin Fund (FBTC) led the outflows, losing $166 million, followed by Grayscale’s GBTC, which saw $107.5 million exit. Other funds, including those from Ark 21Shares, Bitwise, VanEck, Invesco, and Franklin Templeton, also reported net outflows. In contrast, BlackRock’s iShares Bitcoin Trust (IBIT) stood alone with a net inflow of $125 million, continuing its 34-day inflow streak. IBIT’s total inflows now approach $49 billion, with assets under management exceeding $70 billion.

ETF Store President Nate Geraci noted that while spot Bitcoin ETFs attracted over $9 billion in the past five weeks, gold ETFs lost nearly $3 billion over the same period.

Ether ETFs Maintain Momentum

Spot Ethereum ETFs continued to attract capital, defying the outflow trend seen in Bitcoin. Farside Investors reported a net inflow of $92 million for Ether ETFs on the same day, extending their streak to 10 consecutive trading sessions without any outflows.

BlackRock’s iShares Ethereum Trust (ETHA) contributed over $50 million to that figure, bringing its total inflows to $4.5 billion since its launch in July 2024.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.