The U.S. spot Bitcoin exchange-traded funds (ETFs) experienced their first collective net outflow day in over two weeks, with only BlackRock's fund recording a net inflow on that day.
According to CoinGlass data, 11 Bitcoin (BTC) ETFs recorded a total net outflow of $347 million on May 29, ending a streak of net inflows over 10 consecutive trading days, with the last net outflow occurring on May 13.
This also marks the largest single-day net outflow since March 11, when the ETFs saw a total outflow of $396 million.
The latest net outflow occurred against the backdrop of Bitcoin's decline of over 3.5% on that day, with its price briefly dropping from an intraday high of $108,850 to below $105,000.
Fidelity's Wise Origin Bitcoin Fund (FBTC) had the largest net outflow on that day, with $166 million flowing out, followed by the Grayscale Bitcoin Trust (GBTC), which saw an outflow of $107.5 million.
ETFs from Bitwise, Ark 21Shares, Invesco, Franklin Templeton, and VanEck also experienced outflows, while funds from CoinShares, WisdomTree, and Grayscale's mini Bitcoin trust recorded no fund flow activity.
In contrast, BlackRock's iShares Bitcoin Trust (IBIT) bucked the trend, recording a net inflow of $125 million. This brought its streak of consecutive trading days with net inflows to 34 days, with the last net outflow occurring on April 9.
Over the past two weeks, BlackRock's ETF net inflows have approached $4 billion, bringing the total net inflow amount to $49 billion, with assets under management exceeding $70 billion.
ETF Store President Nate Geraci noted on May 29 that over the past five weeks, spot BTC ETF net inflows exceeded $9 billion, while gold ETFs saw outflows of nearly $3 billion.
Meanwhile, according to Farside Investors, spot Ethereum ETFs also recorded a net inflow of $92 million on May 29, bucking the trend.
This brought its streak of consecutive trading days with net inflows to 10 days, with the last net outflow occurring on May 15.
BlackRock's iShares Ethereum Trust (ETHA) accounted for the largest share of these net inflows, with over $50 million flowing in, bringing its total net inflows since its launch in July 2024 to $4.5 billion.
In response to the U.S. Securities and Exchange Commission (SEC)'s recent clarification that staking does not constitute a securities-related activity, Geraci stated that this is "another obstacle to spot ETH ETF staking being cleared."
Related: The U.S. Securities and Exchange Commission (SEC) withdraws its long-standing lawsuit against Binance.
Original article: “Bitcoin (BTC) ETFs Experience First Collective Outflow in Two Weeks, but BlackRock Bucks the Trend”
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