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US spot Bitcoin ETFs recorded a total net outflow of $125 million on May 29, marking the tenth consecutive day of net outflows, according to SoSoValue data. US spot Ethereum ETFs shed another $17.91 million the same day, extending their own outflow streak to fourteen consecutive sessions.
Why it matters
The streak lengths are the story, not the daily number. A one-day outflow reads as a wobble; ten consecutive sessions of net selling from spot Bitcoin ETFs and fourteen from spot Ethereum ETFs read as positioning. Investors holding regulated US vehicles are rotating out of crypto exposure at a pace that has no obvious macro trigger attached to a single session.
Market impact
The pattern matters for two reasons. First, it confirms that the bid beneath the spot ETF complex is genuinely thin — when net selling persists for this many sessions, the marginal buyer of the last several weeks has stepped aside. Second, the parallel Ethereum streak suggests the move is broad-based across the regulated complex rather than isolated to Bitcoin. Watch whether either streak breaks in the next session: a single net-positive day would reset the narrative, but a fifteenth and eleventh would harden the read that institutional desks are de-risking into the close of the month.
Frequently asked questions
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How long have US spot Bitcoin ETFs been bleeding?
Ten consecutive sessions of net outflows as of May 29, per SoSoValue, totaling $125 million on that single day.
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Are spot Ethereum ETFs also seeing outflows?
Yes. US spot Ethereum ETFs posted $17.91 million in net outflows on May 29, extending their own streak to fourteen consecutive sessions.
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Why is the streak length more important than the daily figure?
A one-day outflow can be noise; ten straight sessions for BTC and fourteen for ETH suggest persistent repositioning rather than a single-session reaction.
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Is this outflow pattern affecting both Bitcoin and Ethereum?
Yes. Both spot BTC and spot ETH ETF books are bleeding in parallel, indicating the selling is broad-based across the regulated US crypto complex rather than isolated to one asset.
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What would signal the outflow trend is reversing?
A single net-positive session in either the BTC or ETH spot ETF complex would reset the streak narrative, though a fifteenth consecutive outflow day would reinforce the de-risking read.
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