The US Bitcoin Spot ETF reported net outflows of $1.42 billion in the last week of May, extending the ongoing negative trend observed throughout the month. The weak performance of these investment funds coincides with Bitcoin’s price struggles, when the top cryptocurrency failed to break through key resistance at $82,000 around May and fell into another correction.
Bitcoin ETF continues to be in deficit throughout the second half of May
Analysis of the performance of individual funds during the week showed that, in typical fashion, selling pressure was concentrated on the largest issuers. BlackRock’s IBIT significantly led outflows, with withdrawals exceeding deposits by $966.42 million, according to data from SoSoValue.
Following the market leaders, Fidelity’s FBTC and Grayscale’s GBTC also recorded significant capital outflows, recording net outflows of $169.15 million and $175.09 million, respectively. Bitwise’s BITB also recorded moderate net outflows of $46.3 million, while other mid-tier funds such as Grayscale’s secondary product BTC and ARK Invest/21Shares’ ARKB recorded smaller but negative flow balances in the $20-30 million range.
Meanwhile, a small net outflow of $5.59 million was observed. ‘Valkyrie Investment’ BRRR, in the meantime Morgan Stanley We recorded a minor withdrawal of approximately $966,650. Meanwhile, several publishers, including Van Eck’s Hoddle, Invesco’s BTCO, Franklin Templeton’s EZBC, of the wisdom tree BTCW and hashdex DEFI recorded no net flows, indicating that both buying and selling activity was paused.
From a daily flow perspective, things look very bearish with withdrawals continuing to outpace deposits. From May 26 to 29, the Bitcoin Spot ETF saw net outflows of $333.71 million on Tuesday, $733.43 million on Wednesday, $228.88 million on Thursday, and $125.31 million on Friday.
This pattern reflects monthly weakness, as only 6 of the 20 trading days in May recorded positive flows and 14 ended in the red. In particular, outflows occurred in all trading sessions in the second half of the month, causing the total negative flow balance to peak at $2.43 billion. This is the highest monthly net outflow in 2026 and the highest since November 2025.
Nonetheless, the Bitcoin spot ETF market remains strong and resilient, with cumulative net inflows of $55.66 billion since launch in 2024. Meanwhile, its total net asset value is $94.17 billion, accounting for 6.38% of Bitcoin’s market capitalization.
Related Reading: Bank Vs. Crypto Law: JPMorgan CEO Doubles Down on Opposition to CLARITY
Bitcoin Price Overview
At the time of writing, Bitcoin is trading at $74,012, reflecting a slight gain of 1.07% over the past day. Meanwhile, daily trading volume decreased by 47.55% to $18.12 billion.
Featured image from Flickr, chart from Tradingview
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