Image Credit: Shutterstock
Key Takeaways
- Bitcoin ETFs posted a record 11-session outflow streak.
- Investors withdrew roughly $3.45 billion from spot ETFs.
- Institutional Bitcoin accumulation showed signs of slowing.
U.S. spot Bitcoin exchange-traded funds recorded their longest stretch of net outflows since launching in January 2024, with investors withdrawing approximately $3.45 billion over 11 consecutive trading sessions as Bitcoin fell toward $70,000, according to data from SoSoValue.
Spot Bitcoin ETFs Post Longest Redemption Run Since Launch
The current streak began on May 15 and surpassed the previous record of eight consecutive sessions of net outflows set in February 2025. According to SoSoValue data, investors removed roughly $3.45 billion from U.S. spot Bitcoin ETFs during the 11-session period.
The latest trading session accounted for another $484 million in net withdrawals from the funds. During the same period, Bitcoin declined 4% in Asian trading hours, moving closer to the $70,000 level.
The ETFs launched in January 2024 and had previously experienced shorter periods of sustained redemptions. The current outflow streak marks the largest cumulative withdrawal period for the products since their debut.
AI And Semiconductor Stocks Continue Drawing Investor Interest
While investors pulled funds from Bitcoin ETFs, appetite for risk assets in equity markets remained elevated. Shares of Nvidia rose 6%, with semiconductor and artificial intelligence-linked stocks continuing to attract investor capital.
The divergence between Bitcoin ETF flows and equity market performance coincided with continued strength in AI-related equities, particularly semiconductor companies tied to artificial intelligence infrastructure and computing demand.
Strategy Reports First Bitcoin Sale Since 2022
At the same time, Strategy disclosed Monday that it sold 32 Bitcoin valued at roughly $2.5 million. The company said the proceeds would be used to fund distributions related to one of its preferred stock offerings.
Although the transaction represented a small portion of Strategy’s Bitcoin holdings, the sale marked the company’s first disposal of Bitcoin since December 2022. The move followed months in which Executive Chairman Michael Saylor publicly promoted a long-term buy-and-hold approach to Bitcoin accumulation.
CryptoQuant Notes Slowing Institutional Accumulation
Additional indicators of institutional demand have also weakened in recent months, according to blockchain analytics firm CryptoQuant. In its latest weekly market report, CryptoQuant said Bitcoin is increasingly becoming “a market of holders rather than buyers.” The firm stated that accumulation by ETFs and corporate treasury buyers has slowed significantly compared with earlier periods of the rally.
CryptoQuant also pointed to the ongoing ETF redemption streak as another indication that one of the primary sources of demand supporting Bitcoin’s recent price gains may be losing momentum.
