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U.S. spot Bitcoin ETFs logged a total net outflow of $105 million on May 22, according to SoSoValue data, extending the Bitcoin-fund outflow streak to six consecutive trading days. The pace is the longest such run since the products debuted in January 2024.
Why it matters
Spot Ethereum ETFs weren't immune — they shed $6.67 million the same session, stretching the ETH-fund outflow streak to ten straight days. A synchronized retreat across both spot books is rare and signals broad-based de-risking rather than a single-fund rotation, with allocators trimming exposure across the crypto complex simultaneously.
Market impact
The pattern matters more than any single day's number: six straight days of net Bitcoin-fund outflows and ten straight for the ETH funds mark the longest synchronized institutional retreat since launch. The next data point to watch is whether window-dressing into month-end draws a bid back into both books, or whether the streaks reset into a seventh and eleventh session.
Frequently asked questions
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How much did spot Bitcoin ETFs lose on May 22?
U.S. spot Bitcoin ETFs recorded a total net outflow of $105 million on May 22, according to SoSoValue data, marking the sixth consecutive day of net outflows.
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What is the current spot Ethereum ETF outflow streak?
Spot Ethereum ETFs saw a net outflow of $6.67 million on May 22, extending their outflow streak to ten consecutive trading days.
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Is the streak the longest since spot Bitcoin ETFs launched?
Yes. Six straight days of net outflows is the longest such streak for U.S. spot Bitcoin ETFs since the products debuted in January 2024.
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Why does a synchronized BTC and ETH ETF outflow streak matter?
Both spot books bleeding at the same time is uncommon and signals broad-based institutional de-risking across the crypto complex rather than a single-fund rotation.
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What data point should investors watch next?
Whether month-end window-dressing draws fresh bids into the spot BTC and ETH ETF books, or whether the outflow streaks extend into a seventh and eleventh session.
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