U.S. spot Bitcoin ETFs shed $1.26 billion across six consecutive trading sessions from May 15 to May 22, marking their worst weekly outflow since late January 2026. Spot Ether ETFs fared no better, extending their losing streak to 10 consecutive days of net redemptions as institutional appetite for crypto fund products cooled sharply.
Spot Bitcoin ETFs Post $1.26 Billion in Weekly Outflows
The $1.26 billion in net outflows across all 12 U.S. spot Bitcoin ETFs represented the steepest weekly drawdown since a comparable selloff in late January. Monday, May 19 alone accounted for $648.6 million in redemptions, the largest single-day outflow since January 29.
Bitcoin ETF Weekly Net Outflows (May 15–22, 2026)
−$1.26B
Worst weekly outflow since late January 2026 — six consecutive sessions of redemptions
Source: The Block / Farside Investors
The remaining sessions saw $331 million exit on Tuesday, $70.5 million on Wednesday, $100.8 million on Thursday, and $105.2 million on Friday. The pace slowed considerably after Monday’s spike, but no single day reversed the trend.
Despite the brutal week, the broader picture remains structurally intact. Cumulative net inflows across all spot Bitcoin ETFs still stand at $57.1 billion, with total net assets of $98.9 billion across the 12 funds. ETF analyst James Seyffart has noted that total inflows are approaching their all-time high of $60 billion, a tension that underscores how a record-worst week can coexist with near-record cumulative demand.
Ether ETFs Extend Losing Streak to 10 Consecutive Days
Spot Ether ETFs logged a tenth consecutive day of net outflows on Friday, May 22, marking the longest negative streak for Ethereum fund products since March 2025.
Spot Ether ETF Consecutive Outflow Days
10 Days
Longest Ethereum ETF outflow streak since March 2025 — BlackRock ETHA led with $184.59M in weekly outflows
Source: The Block / Farside Investors
BlackRock’s ETHA led the Ethereum ETF exodus with $184.59 million in weekly outflows. Among all spot Ether fund products, only 21Shares’ ETHB managed to post positive flows for the period.
Ether ETFs have consistently underperformed their Bitcoin counterparts in terms of inflow momentum since launching in 2024. The 10-day streak reinforces the widening gap in institutional appetite between BTC and ETH exposure, a dynamic that could influence how the SEC approaches future crypto fund approvals and product expansion.
What’s Driving the Selloff
The outflow wave coincided with a deteriorating macro backdrop. Andri Fauzan Adziima of the Bitrue Research Institute pointed to “surging Treasury yields hitting 12-month highs, a stronger dollar, and geopolitical escalation” as key culprits behind the risk-off rotation.
Bitcoin’s price action reflected the stress. BTC hit $79,050 on May 16 but failed to hold the $80,000 level, pulling back to trade at $75,749 at press time, down 1.09% over the prior 24 hours. Ethereum traded at $2,075, with the Fear & Greed Index sitting at 28, firmly in “Fear” territory.
According to unconfirmed reports, 10x Research stated that over $1 billion left Bitcoin ETFs following hotter-than-expected CPI data, with cryptocurrency sentiment dropping from 87% to 45%. A separate Bitfinex report reportedly found corporate treasury buyers pulled back roughly 80% in purchase volume month-over-month in May.
Not all analysts read the outflows as bearish. Santiment characterized the current streak as retail capitulation consistent with historical accumulation setups, noting that “sustained ETF outflows have historically correlated with conditions favorable for patient accumulation rather than panic.” Previous outflow episodes in July 2025, October 2025, and November 2025 ultimately resolved with flow reversals, a pattern that investors watching the Strategic Bitcoin Reserve debate and broader institutional adoption narrative will be tracking closely.
The key signal to watch is whether daily outflows continue decelerating, as the $70.5 million Wednesday figure versus Monday’s $648.6 million suggests they might, or whether a fresh macro shock reignites redemptions. With cumulative inflows approaching the $60 billion all-time high and new Bitcoin index options products expanding institutional access, the structural demand story has not broken. But the short-term pain is real, and the 10-day Ether streak suggests broader crypto fund fatigue beyond just Bitcoin.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.
