Bitcoin ETFs Suffer $85.7 Million Outflow, Breaking May's Inflow Streak

Spot Bitcoin ETFs experienced a net outflow of $85.7 million on May 6, ending the strong run of inflows seen earlier in the month. BlackRock’s IBIT continued to dominate prior flows, contributing to major bullish momentum in late April and early May. On May 6, Grayscale’s GBTC led the outflows with $89.9 million, followed by ARKB (-$16.1M), Franklin (-$8.3M), and WisdomTree (-$8.1M). Despite the setback, May’s net ETF inflows remain positive at $1.43 billion, and market participants are watching closely to determine if this outflow signals a change in sentiment or is merely a short-term correction. The event marks the largest ETF outflow since April 16 and could affect overall market sentiment if upward price action fails to resume soon.