Spot Bitcoin ETFs bled $1.54 billion in net outflows over the seven days ending May 24, according to data compiled this week. The figure marks the largest weekly withdrawal since the funds launched, flipping a stretch of steady inflows into a sharp reversal. The selling hit every trading day of the period, with the heaviest single-day exodus coming mid-week.
Seven straight days of red
The outflow streak ran from Monday through Friday, with no session posting a positive net flow. By Friday afternoon, cumulative outflows had wiped out roughly two weeks' worth of prior gains. The pace accelerated mid-week, when a single day saw more than $400 million leave the funds. By Friday, the pace slowed but remained negative — a sign the selling pressure hadn't fully exhausted itself.
The biggest exits
While the report doesn't break down flows by fund, the aggregate $1.54 billion figure is the largest weekly net outflow since the ETFs debuted. The previous record week — set back in March — saw about $1.1 billion leave. This week's number is about 40% larger. No single event, regulatory decision, or price move has been officially blamed for the exodus, but the selling was broad-based and persistent.
What this means for momentum
The outflows come after a spring rally in Bitcoin prices and a steady build in ETF holdings. The sudden reversal caught some market participants off guard. The timing — late May, with no obvious macro catalyst — has led to speculation about profit-taking, but the data alone doesn't answer why. What's clear is that the funds have now lost nearly all the net inflows they accumulated over the previous month.
Next week's numbers will be the first real test of whether this is a one-off shakeout or the start of a longer-term trend. The funds' daily flow reports, released each morning, will show if the selling continues into June. Investors will be watching closely.
