Bitcoin ETFs Suffer Record 10-Day Outflow of Nearly $3 Billion
nashnova research
U.S. Bitcoin spot ETFs bled $2.97 billion over 10 straight trading days, while an AI-driven rally pushed global equities to fresh highs — capital is voting with its feet, rotating from crypto into tech.
Where is the money going?
From May 15 to 29, U.S. Bitcoin spot ETFs saw cumulative net outflows of $2.97 billion, breaking the previous record of 8 consecutive days set in early 2025.
May 27 alone accounted for $733 million in outflows — the largest single-day exit since January.
This means → total net assets dropped from $104.29 billion to $94.17 billion, nearly a tenth erased in 10 trading days.
Is Ethereum faring even worse?
Ethereum spot ETFs have posted net outflows for 14 consecutive trading days — four more than Bitcoin.
Net assets fell by roughly $2.6 billion over the same period.
In plain terms = money is not just leaving Bitcoin; it is leaving the entire crypto-ETF complex.
How far have prices fallen?
Over the past 7 days, Bitcoin dropped 4.6% to $73,397; Ethereum fell 4.6% to $1,996.
Solana lost 3.7% to $81.89; DOGE slipped 1.6% to $0.1001.
The lone exception in the top ten by market cap: Hyperliquid's HYPE token, up 18.7% to $73.17 — its spot ETF, listed May 12, has drawn net inflows every trading day since launch, with cumulative net assets exceeding $122 million.
What is powering the AI rally?
The MSCI World Index rose 0.2%; Asian equities climbed 1.1% to all-time highs, with tech indices in South Korea, Taiwan, and Japan all hitting records.
Nvidia announced a push into Windows laptops; SoftBank surged as much as 11% on its OpenAI and Arm holdings, putting it on track to become Japan's most valuable listed company.
This reflects a market where the dominant consensus trade is AI, not crypto. Capital has made a clear choice between the two.
Is the macro backdrop helping or hurting?
Brent crude climbed back above $93 a barrel as U.S.–Iran ceasefire talks stalled and efforts to reopen the Strait of Hormuz showed little progress.
Rising oil prices pushed the U.S. Treasury yield curve higher across maturities; the macro tailwinds the market had been pricing in are no longer clear.
Put simply = oil up → rate expectations up → risk assets under pressure. Crypto, as the most marginal risk asset, takes the first hit, and persistent ETF outflows are further suppressing any rebound momentum.
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