US spot Bitcoin ETFs post eight consecutive days of net outflows, totaling over $2 billion since mid-May amid weakening institutional demand.
A $1.3 billion sale of 29.2 million IBIT shares at $43.16, executed off-exchange, drove Tuesday’s $333.6 million net outflow from US spot Bitcoin ETFs. The trade was 22 times larger than the second-biggest IBIT sell order on the same day.
The outflows mark the eighth straight session of net withdrawals, with total outflows exceeding $2 billion since May 14. Prior to this streak, the funds had seen consistent inflows, reflecting shifting institutional sentiment toward Bitcoin exposure.
Institutional players have reduced holdings, with Jane Street cutting its Bitcoin ETF position by 70% in Q1 and Goldman Sachs trimming its exposure by 10%. The outflows suggest capital is exiting faster than new investments are entering the market.