Spot Bitcoin ETFs see record 10-day outflow streak, analyst calls it ‘contrarian indicator’
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Spot Bitcoin ETFs logged a record 10-day outflow streak totaling nearly $3 billion, while Ether ETFs bled for 14 consecutive sessions.
Key facts
Total net assets fell from $13.85 billion on May 11 to $11.27 billion on May 29, a decline of roughly $2.6 billion over the period
Spot Bitcoin ETFs logged a record 10-day outflow streak totaling nearly $3 billion, while Ether ETFs bled for 14 consecutive sessions
According to data from SoSoValue, daily outflows ranged from $70 million to $733 million across the period, with the steepest single-day exodus recorded on Wednesday at $733.43 million
Spot Ether (ETH) ETFs have also been caught in the broader selloff, logging outflows across 14 consecutive trading sessions from May 11 to Friday
Summary
Spot Bitcoin exchange-traded funds (ETFs) have logged outflows for ten consecutive trading days, with total net redemptions exceeding $2.97 billion since May 15, a streak that one analyst says may signal a market bottom is near. According to data from SoSoValue, daily outflows ranged from $70 million to $733 million across the period, with the steepest single-day exodus recorded on Wednesday at $733.43 million. The current streak broke the previous record of eight consecutive outflow sessions, which was recorded in early last year and saw $3.2 billion in withdrawals, on Thursday, before extending to 10 days on Friday. Spot Bitcoin ETFs have become a major gauge of institutional demand since their US launch.