U.S. spot Bitcoin exchange-traded funds posted their fifth consecutive day of net outflows, with total withdrawals reaching approximately $1.63 billion. The selling pressure was overwhelmingly driven by BlackRock’s iShares Bitcoin Trust (IBIT), which accounted for nearly 75% of all Bitcoin ETF outflows during this period.
On May 21 alone, the entire Bitcoin ETF category saw $100.81 million in net outflows, and BlackRock’s IBIT recorded $103.65 million of that. Over the four trading days from May 18 to May 21, IBIT lost $448.4 million, $325.6 million, $61.5 million, and $103.7 million, respectively—totaling more than $1.15 billion in outflows from the world’s largest asset manager alone.
Other major Bitcoin ETFs also saw significant withdrawals. ARK Invest’s ARKB shed roughly $163 million, while Fidelity’s FBTC experienced about $114 million in outflows over the same stretch. Meanwhile, Bitcoin price continued to hover near $77,500, showing resilience despite the heavy fund redemptions.
Market participants attributed the exodus to persistent inflation concerns in the United States, which have raised expectations that interest rates may stay elevated for longer. Higher rates typically reduce appetite for risk assets like cryptocurrencies. Global geopolitical tensions and soft equity markets further encouraged institutional de-risking.
While Bitcoin ETFs struggled, divergences appeared elsewhere. Ethereum ETFs also posted $32.5 million in daily outflows. In contrast, spot Solana and XRP ETFs continued to attract fresh capital, with Solana ETFs alone recording nearly $3.86 million in daily net inflows, indicating selective demand remains for certain altcoins.
