US spot bitcoin ETFs have now recorded nine consecutive trading days of net outflows, marking the longest streak of withdrawals since the products listed in January 2024. SoSoValue data
Over the nine sessions, investors withdrew about $2.8 billion from funds, surpassing any previous period of sustained selling pressure.
U.S. spot bitcoin ETFs lost about $1.3 billion this week, extending a three-week streak of net outflows, according to data tracked by SoSoValue. Monthly withdrawals now total around $2.3 billion.
These outflows coincided with a sharp decline in bitcoin, which fell from around $80,000 to $73,000 during the period. However, the broader context extends beyond Bitcoin price action. Year-to-date, bitcoin has lagged many of the market’s best-performing assets, particularly AI-related stocks, semiconductors and memory chips, which have continued to attract capital amid growing enthusiasm for AI infrastructure spending.
Signs of institutional selling also appeared beneath the surface. BlackRock’s iShares Bitcoin Trust (IBIT) recorded its largest one-day outflow since its launch earlier this week, largely driven by a large dark pool transaction. Although the precise motivation for the transaction is unknown, the scale of the buyout suggests that some investors may reallocate their capital from Bitcoin exposure to sectors that have recently generated higher returns.
Historically, sustained ETF outflows have often coincided with periods of market stress that then turned into local troughs. Data from Glassnode shows that the 14-day moving average of ETF flows tends to bottom out near significant inflection points. Similar trends emerged during the early February correction, when bitcoin briefly fell as low as $60,000, and again in November, when ETF outflows accelerated around bitcoin’s record pullback and local low near $85,000.
