BlackRock’s iShares Bitcoin ETF (IBIT) has finally seen its record-breaking inflow streak come to an end. After more than 30 consecutive days of net inflows, IBIT recorded an outflow of $400 million, coinciding with a drop in Bitcoin’s price below $105,000.
According to data from Farside Investors, IBIT saw a total daily outflow of $430.8 $XRP
million. It wasn’t alone—other major spot Bitcoin ETFs also faced redemptions. Fidelity’s FBTC recorded $13.7 million in outflows, Bitwise’s BITB saw $35.3 million exit, and Ark Invest’s 21Shares ARKB experienced a significant $120.1 million withdrawal.
Despite this reversal, market analysts remain impressed by IBIT’s recent run. Nate Geraci, president of ETF Store, commented,
> “What a run over the past 30+ days. Not sure I have words to describe how ridiculous this is.”
The large outflow was not entirely unexpected. Other Bitcoin ETFs had already experienced multiple days of redemptions in May. On May 29 alone, spot Bitcoin ETFs saw a combined outflow of $347 million, ending a two-week inflow streak and signaling that IBIT's eventual reversal was likely.
By the end of May 30, the total outflow across all 11 U.S. spot Bitcoin ETFs reached $616.1 million—the largest single-day outflow in over a month. Still, the month of May was largely positive for Bitcoin, as consistent inflows earlier in the month helped the asset hit new local highs.
IBIT’s AUM Tops $70 Billion Despite Market Dip
Remarkably, IBIT’s assets under management (AUM) now exceed $70 billion, placing it at 23rd among the top 100 ETFs globally. This milestone is particularly impressive given that IBIT is less than 18 months old and has already surpassed all expectations placed on spot Bitcoin ETFs when they were first approved.
Bloomberg ETF analyst Eric Balchunas pointed out that the next-youngest ETF in the top 25 has been in existence for over a decade, further underscoring IBIT’s exceptional growth. IBIT attracted roughly $6.5 billion in net inflows during May—a monthly record that significantly contributed to its AUM milestone.
Over the past five weeks, spot Bitcoin ETFs collectively saw over $9 billion in inflows. In contrast, gold ETFs recorded nearly $3 billion in outflows during the same period, signaling a shift in investor preference. Many now view Bitcoin as a hedge asset, increasingly favored over traditional safe-havens like gold.
Since the launch of U.S. spot Bitcoin ETFs, cumulative net inflows have totaled approximately $45 billion—even as Grayscale’s GBTC alone has shed $23.21 billion following its ETF conversion.
What Lies Ahead for Bitcoin?
Bitcoin has dropped over 4% in the past week, slipping from a local high of $112,000 down to $104,000. Despite this, market analysts remain optimistic about the broader trend. Many believe the current bull run still has room to continue.
According to CryptoQuant, bullish conditions for Bitcoin persist, even though some metrics suggest the market is becoming overheated. Their Bull Score Index currently sits at 80, indicating strong bullish momentum. The firm expects this trend to continue unless the index drops below 50.
That said, some signs suggest the market may be approaching a short-term top. Bitcoin’s 30-day demand growth reached 229,000 BTC, approaching the December 2024 peak of 279,000 BTC. Historically, such spikes have preceded periods of slowed accumulation.
Additionally, Bitcoin whale holdings increased by 2.8% last month—a rapid rise that often signals reduced future buying pressure.
Still, long-term sentiment remains highly bullish. Thomas Fahrer, founder of Apollo Sats, dismissed concerns about a 2025 double-top pattern, noting that the current rally is supported by structural demand from ETFs, corporate treasuries, and even sovereign entities holding Bitcoin in their reserves.
Crypto analyst Crypto Dan echoed this optimism. He pointed to the Net Realized Profit and Loss (NPRL) metric, which remains relatively subdued compared to previous market peaks. This suggests the recent profit-taking might result in a short-term correction rather than a full reversal of the upward cycles.. #MarketPullback #BinanceAlphaAlert #TrumpTariffs #TrumpMediaBitcoinTreasury #TradingTypes101
