BlackRock's IBIT has closed in the red every single day for two consecutive weeks, and the broader US spot Bitcoin ETF complex has now logged its third straight week of net outflows. Since May 11th, more than $3.5 billion has exited the category in net terms — a sustained bleed that goes well beyond routine profit-taking.
The persistence of the outflow streak is the signal here. Three consecutive negative weeks without a reversal day suggests institutional holders are actively reducing exposure, not simply pausing new inflows. BlackRock's IBIT, which led the category's historic inflow run earlier this year, is now leading the drawdown.
For Bitcoin price action, sustained ETF outflows of this magnitude represent structural selling pressure from the most regulated, most visible demand channel the market has.
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