TheBlock
U.S. spot bitcoin ETFs shed $483.8 million on Monday, extending their outflow streak to an 11th consecutive trading day and bringing the cumulative drawdown across that window to $3.45 billion, according to SoSoValue data. BlackRock's IBIT accounted for the bulk of the damage at $440.3 million in net redemptions, while Morgan Stanley's MSBT was the lone net buyer on the day with a $6.14 million inflow. The single-day print is the latest leg of a May that closed with $2.43 billion in monthly net outflows — the deepest monthly withdrawal from the cohort since November 2025.
Why it matters
The flow picture is starting to resemble a rotation rather than a one-off de-risking. Bitrue Research Institute's Andri Fauzan Adziima attributes May's $2.43 billion in outflows to a cocktail of rising inflation prints, climbing Treasury yields, and a fading consensus on near-term rate cuts — conditions that pushed institutional allocators out of crypto ETFs and into AI-related equities, where the perceived growth-versus-macro-shock trade looked cleaner. The same logic is now compounding on a daily basis: eleven straight sessions of net selling is no longer noise around a single macro print, it's a pattern.
Market impact
Spot price is absorbing the flow. Bitcoin slid to an intraday low near $70,200 on Monday night before stabilizing around $70,750, down 3.6% over the prior 24 hours, per The Block's price data. Adziima flagged two distinct drivers beyond the ETF tape: the U.S.–Iran geopolitical back-and-forth, and Strategy's first BTC sale in multiple years — a development he said "damaged the corporate 'buy and hold' story" and accelerated the decline. He expects more consolidation and a test of lower levels in the short term, framing the move as "prudent risk-off" rather than a structural rejection of bitcoin — a distinction that matters for how fast the bid returns once macro stabilizes.
Frequently asked questions
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How much have US spot bitcoin ETFs lost during the current outflow streak?
The eleven-session streak has pulled a cumulative $3.45 billion out of US spot bitcoin ETFs, with the single Monday print accounting for $483.8 million of that total, per SoSoValue data.
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Which fund drove the latest day of spot BTC ETF outflows?
BlackRock's IBIT accounted for the bulk of the damage at $440.3 million in net redemptions on Monday. Morgan Stanley's MSBT was the only net buyer of the day, adding $6.14 million.
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How bad was May for spot bitcoin ETFs overall?
The US spot bitcoin ETF complex logged $2.43 billion in net outflows during May, the largest monthly outflow since November 2025, according to SoSoValue.
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Why are institutions pulling money from spot bitcoin ETFs?
Bitrue Research Institute's Andri Fauzan Adziima attributes the rotation to rising inflation, higher Treasury yields, and fading hopes for interest rate cuts, which have pushed institutional capital toward AI-related equities.
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How low has bitcoin traded during the latest sell-off?
Bitcoin fell to an intraday low near $70,200 on Monday night before stabilizing around $70,750, down 3.6% over the prior 24 hours, per The Block's price data.
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