- Bitcoin ETFs saw $347M outflow on May 29, ending a 10-day inflow streak.
- BlackRock’s IBIT gained $125M, marking 34 straight days of inflows.
- Ether ETFs posted $92M inflow, extending a 10-day positive streak.
US-based spot Bitcoin exchange-traded funds experienced a total combined outflow of $347 million on May 29 which terminated their 10-day period of net inflows. This marked the first daily outflow across all Bitcoin ETFs in over two weeks, according to CoinGlass. Despite the broad retreat, BlackRock’s iShares Bitcoin Trust continued to attract capital, recording a $125 million net inflow for the day.
Largest Daily Outflow Since March Reflects Market Volatility
May 29 saw the biggest single-day flow reversal since March 11 when net redemptions reached $396 million. The market trend aligned with Bitcoin’s value dropping past 3.5% from its peak at $108,850 and reaching just under $105,000. The Wise Origin Bitcoin Fund from Fidelity suffered its biggest net outflow by losing $166 million. On the same day Grayscale’s Bitcoin Trust experienced redemptions amounting to $107.5 million.
Bitwise, Ark 21Shares, Invesco, Franklin Templeton, and VanEck experienced fund outflows during this period. Products from CoinShares, WisdomTree, and Grayscale’s mini Bitcoin trust did not register any capital movement. The coordinated exit suggests short-term profit-taking or caution amid price fluctuations.
BlackRock’s Inflow Streak Reaches 34 Days
While most ETFs posted redemptions, BlackRock stood apart with consistent inflows. Its iShares Bitcoin Trust added $125 million on May 29, extending its inflow streak to 34 consecutive trading days. The last recorded outflow for this fund occurred on April 9. Over the past two weeks, the product has attracted nearly $4 billion in new investments. This raised its total net inflows to $49 billion, with assets under management surpassing $70 billion.
BlackRock’s performance highlights growing investor preference for the firm’s Bitcoin exposure, even as other issuers experienced setbacks. According to recent data, spot Bitcoin ETFs have received more than $9 billion over the last five weeks. Meanwhile, gold ETFs saw nearly $3 billion in redemptions during the same period.
Ether ETFs Maintain Inflow Momentum
Ether-based ETFs showed continued investor confidence, bucking the outflow pattern observed in Bitcoin funds. On May 29, spot Ether ETFs recorded a net inflow of $92 million, according to Farside Investors. The inflow marked ten straight trading days without any redemptions since May 15. BlackRock’s iShares Ethereum Trust led the Ether fund gains, with more than $50 million added on the day. The product has accumulated $4.5 billion in inflows since its launch in July 2024.
The sustained interest in Ether ETFs coincided with recent regulatory developments. According to Geraci, the clarification from the SEC stating that staking is not considered a securities-related activity provided further confidence for Ether products. This regulatory clarity may support long-term interest in Ethereum-linked investment vehicles.
