BlackRock led a massive $733 million selloff in Bitcoin ETFs on May 27, with the firm's own fund bleeding $528 million. The outflow extended the losing streak for Bitcoin ETFs to eight consecutive days. Ether funds also kept sliding, and the broader tone across crypto ETFs stayed firmly negative — even as a couple of altcoin products drew modest fresh capital.
The scale of the selloff
Wednesday's numbers are stark. Of the $733 million pulled out of Bitcoin ETFs, BlackRock's product accounted for more than two-thirds. That's the largest single-day outflow from the fund since trading began. The rest came from other issuers, though none came close to BlackRock's share. The timing isn't great — the streak is now the longest since the ETF wave launched early last year.
Eight days and counting
Bitcoin ETFs haven't seen a positive day in over a week. The eight-day losing run covers about $2.8 billion in net outflows, per data from multiple providers. Ether ETFs aren't faring any better. They extended their own losing streak on Wednesday, though the daily outflows were smaller — in the tens of millions rather than hundreds. The market is clearly in a risk-off mood.
Two exceptions in a sea of red
Not every crypto ETF bled. HYPE and Solana products each drew modest fresh capital on Wednesday. The inflows weren't huge — probably a few million each — but they stand out in a market where almost everything else is losing money. It suggests some investors are rotating into alternative assets even as they ditch Bitcoin and Ether exposure.
Where things stand
The broader tone in crypto ETFs remains firmly negative. No one's calling a bottom yet. The selloff is broad, persistent, and led by the biggest player in the space. Whether the streak breaks tomorrow depends on whether macro sentiment shifts — or if buyers finally step in at these levels. For now, the exits are crowded.
