Spot Bitcoin ETFs in the U.S. saw a collective $347 million outflow on May 29, ending a 10-day inflow streak — the longest since mid-May. Notably, BlackRock’s iShares Bitcoin Trust (IBIT) was the only ETF to post an inflow, adding $125 million and marking its 34th consecutive trading day of positive net flows, according to data from CoinGlass.
This marks the largest single-day ETF outflow since March 11, when $396 million exited the market.
Bitcoin ETF Outflows: Market Snapshot
The sharp reversal comes amid a 3.5% decline in Bitcoin’s price, dropping from an intraday high of $108,850 to briefly below $105,000. Leading the outflows:
Fidelity Wise Origin Bitcoin Fund (FBTC): -$166 million
Grayscale Bitcoin Trust (GBTC): -$107.5 million
Bitwise, Ark 21Shares, Invesco, VanEck, and Franklin Templeton ETFs also posted net outflows.
BlackRock’s IBIT: +$125 million
Meanwhile, funds from CoinShares, WisdomTree, and Grayscale’s mini Bitcoin Trust recorded no flows.
Despite the market pullback, BlackRock’s IBIT has maintained consistent momentum, now boasting $49 billion in net inflows and over $70 billion in assets under management (AUM). Over the last two weeks alone, IBIT added nearly $4 billion, underlining its appeal among institutional investors.
Bitcoin vs. Gold: A Shifting Landscape
In a related note, ETF Store President Nate Geraci observed that while over $9 billion has flowed into spot Bitcoin ETFs in the past five weeks, gold ETFs have experienced nearly $3 billion in outflows — highlighting a shift in investor sentiment toward digital assets over traditional safe-haven instruments.
Ether ETFs Continue to Impress
In contrast to Bitcoin ETFs, spot Ether ETFs saw $92 million in net inflows on May 29, extending their 10-day streak without an outflow. The iShares Ethereum Trust (ETHA) from BlackRock led the charge, contributing over $50 million on the day and bringing its total inflows to $4.5 billion since its July 2024 launch.
This bullish momentum follows the SEC’s recent clarification that staking is not considered a securities-related activity, which could pave the way for staking-enabled ETH ETFs and increased investor confidence.
While most Bitcoin ETFs faced selling pressure, BlackRock's IBIT continues to stand out as a market leader, absorbing capital even during short-term corrections. Simultaneously, Ethereum's ETF inflows and regulatory tailwinds suggest growing institutional confidence in the broader crypto market.
Stay tuned to Binance News for further ETF flow updates and crypto market insights.
