Spot bitcoin ETFs in the U.S. suffered their longest-ever capital outflow streak — 10 straight trading sessions bleeding a combined $2.97 billion — while bitcoin fell 4.6% over the past week to $73,397, failing to join global equities that hit fresh records on AI euphoria.
ETF Outflows Set Record, Net Assets Shrink by Billions
According to SoSoValue data, U.S. spot bitcoin ETFs have now logged 10 consecutive days of net outflows through Friday (May 29), totaling $2.97 billion. The streak surpassed the previous record of eight sessions set in early 2025. On May 27 alone, $733 million exited — the largest single-day outflow since January. Total net assets dropped from $104.29 billion on May 15 to $94.17 billion by Friday, a decline of over $10 billion.
Ether ETFs are facing an even longer outflow streak — 14 straight sessions, with roughly $2.6 billion drained over the same period. The persistent redemptions across both major crypto ETFs signal a shift in institutional sentiment toward caution.
Bitcoin Decouples from Stocks as Macro Headwinds Mount
In Asian trading Monday, the MSCI All Country World Index gained 0.2%, tech indexes in South Korea, Taiwan and Japan all hit all-time highs, and Nasdaq 100 futures rose 0.6%. Nvidia announced entry into the Windows laptop market, and SoftBank surged 11% on its OpenAI and Arm stakes. Yet crypto failed to track the rally. Bitcoin slid 4.6% to $73,397, ether dropped 4.6% to $1,996, Solana fell 3.7% to $81.89, and TRX slipped 3.7%. Dogecoin edged down 1.6%.
Brent crude climbed above $93 per barrel as efforts to reopen the Strait of Hormuz stalled and Middle East tensions remained high. Treasury yields rose across the curve, further weighing on risk assets.
HYPE Defies the Odds, ETF Continues to Attract Inflows
Among top 10 cryptocurrencies by market cap, HYPE was the only gainer — up 18.7% over the past seven days to $73.17. The U.S. spot HYPE ETF, launched May 12, has logged inflows in every trading session since, pushing cumulative net assets above $122 million. This stands in stark contrast to the persistent outflows seen in bitcoin and ether ETFs.
Overall, crude's move above $93 and the stalled Iran talks have removed the macro tailwind the crypto market had been hoping for, while ETF outflows show no sign of reversing in the near term.