Bitcoin ETFs bleed $2.8B in record nine-day outflow streak

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US spot Bitcoin ETF outflows in May 2026 versus February 2025. Source: SoSoValue The outflows suggest institutional demand for Bitcoin exposure is weakening through the ETF channel, and come as major corporate holders such as Strategy face renewed pressure even as some new altcoin products like Hyperliquid (HYPE) ETFs continue attracting investor interest. BlackRock’s iShares Bitcoin Trust (IBIT), the largest US spot Bitcoin ETF by assets, accounted for a massive share of losses during the nine-session outflow streak. The fund recorded roughly $2.04 billion in cumulative outflows between May 15 and Thursday. As Cointelegraph reported, a $527.8 million withdrawal on May 27 marked IBIT’s second-largest daily outflow on record, narrowly below the $528.3 million record posted on Jan. 30, 2025. BTC holdings for all US spot Bitcoin ETFs as of market close on Wednesday. Source: Wallet Pilot Despite the selling pressure, BlackRock’s Bitcoin ETF remains the dominant US spot Bitcoin fund by assets under management. IBIT held roughly 792,000 BTC as of market close on Wednesday, representing about 62% of all US spot Bitcoin ETF holdings, according to Wallet Pilot data. While spot Bitcoin ETFs face sustained selling pressure, newly launched HYPE ETFs have continued attracting fresh capital from investors. The products recorded steady inflows between May 12 and Thursday, with cumulative net inflows rising above $100 million, according to SoSoValue. Daily flows in US-listed spot HYPE ETFs. Source: SoSoValue Other altcoin funds such as spot XRP ETFs also recorded steady gains over the period, totaling roughly $120 million in net additions between May 4 and Thursday. Related: Bitcoin’s major holders halt buys as demand slows: CryptoQuant The divergence underscores a shift in crypto fund flows, with investors pulling back from Bitcoin and Ether ETFs while newer products tied to tokens such as Hyperliquid’s HYPE continue to attract inflows. US spot Ether ETFs have also faced persistent selling pressure, logging 13 consecutive days of outflows between May 11 and Thursday, with cumulative losses of roughly $694 million. Magazine: Big Questions: Do we really only need 2–5 cryptocurrencies? More on the subject

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