US spot Bitcoin ETFs recorded a record 11-day outflow streak, losing $3.45 billion as institutional sentiment weakened.
Bitcoin News
US spot Bitcoin (BTC) exchange-traded funds (ETFs) extended their outflow streak to 11 consecutive trading days as of June 1, marking the longest sustained negative run since the products launched in January 2024, according to SoSoValue data. The streak surpassed a previous record of eight consecutive outflow sessions set in February 2025.
The 11-day run began on May 15 and has drained a cumulative $3.45 billion from spot BTC ETFs. As a result, year-to-date flows have turned negative for the first time in 2026. Total assets under management across US spot Bitcoin ETFs fell from approximately $104.29 billion at the start of the streak to around $94.17 billion by the end of May 2026.
June 1's session saw $483.8 million in net outflows, with BlackRock's IBIT accounting for $440.3 million of that total. Fidelity's FBTC and ARK 21Shares' ARKB also contributed to the selling pressure. Morgan Stanley's MSBT was the only fund to record net inflows on the day, taking in $6.14 million, according to SoSoValue.
May 2026 closed with $2.43 billion in monthly net outflows, the largest monthly withdrawal since November 2025. Andri Fauzan Adziima, research lead at Bitrue Research Institute, said the month's outflows were driven by rising inflation, higher Treasury yields, and diminishing expectations for interest rate cuts. He said institutions pulled capital from crypto ETFs and redeployed it into AI-related stocks, a rotation that accelerated as global equities hit fresh records during the same period.
Galaxy Research analysts described the broader outflow trend as "real directional recalibration" rather than routine hedge adjustments. Adziima called the current positioning "prudent risk-off" rather than a rejection of BTC, and described the near-term setup as "bearish in the short term" with increased downside risk. He expects the market to see further consolidation and test lower levels before conditions stabilize.
Strategy's First BTC Sale in 4 Years Adds to the Pressure
Strategy, the largest corporate holder of BTC, added to negative sentiment when an SEC filing disclosed the company sold 32 BTC between May 26 and May 31. The coins were sold for approximately $2.5 million at an average price of $77,135 each, with proceeds earmarked to fund dividend obligations on its STRC perpetual preferred stock. The company still holds 843,706 BTC. Adziima said the announcement was "poorly timed and created significant negative sentiment," adding that it "damaged the corporate 'buy and hold' story and accelerated the recent decline."
BTC fell below $70,000 on June 2, extending a multi-day slide of roughly 4.5% in 24 hours. Analysts cited ongoing geopolitical tensions and the broader macro environment as additional headwinds. Some analysts pointed to $60,000 as the next major support level if the $70,000 threshold breaks.
Source: CoinMarketCap
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