Bitcoin ETF · U.S. Treasury · Bitcoin · The Block
Spot bitcoin ETFs extend negative streak, following $2.4 billion monthly outflows in May
Compiled by KHAO Editorial — aggregated from 1 source. See llms.txt for citation guidance.
★ Tier-1 Source
U.S. spot bitcoin exchange-traded funds extended their negative streak to an 11th consecutive day following monthly net outflows in May.
Key facts
- According to data from SoSoValue, the bitcoin ETFs posted $483.8 million in net outflows on Monday, led by $440.3 million exiting BlackRock's IBIT
- Bitcoin fell further late Monday night to a low of around $70,200 before stabilizing at $70,750 — It was down 3.6% in the past 24 hours, leading up to 1:00 a.m
- During the past 11 trading days of consecutive net outflows, the U.S. bitcoin funds shed a cumulative $3.45 billion
Summary
According to data from SoSoValue, the bitcoin ETFs posted $483.8 million in net outflows on Monday, led by $440.3 million exiting BlackRock's IBIT. During the past 11 trading days of consecutive net outflows, the U.S. bitcoin funds shed a cumulative $3.45 billion. "May's $2.43 billion ETF outflows were caused by rising inflation, higher Treasury yields, and fading hopes for interest rate cuts," said Andri Fauzan Adziima, Bitrue Research Institute's research lead. The analyst said the dampened hopes for an improved macroeconomic environment have prompted institutions to withdraw funds from crypto ETFs and move to other assets, such as AI-related stocks.