US Spot-Bitcoin ETFs See $105.19 Million in Outflows, Extending Streak to Six Sessions

More than $100 million exited the US spot-Bitcoin exchange-traded fund market in a single day.

According to SoSoValue, the 13 US-listed spot-Bitcoin ETFs posted combined net outflows of $105.19 million on May 22. That marked a sixth straight trading session of outflows.

BlackRock's IBIT, the largest fund by assets, led the decline with net outflows of $68.89 million, equivalent to about 906 Bitcoin. Fidelity's FBTC followed with $36.29 million, or about 477 Bitcoin, in net outflows.

The other 11 ETFs, including Grayscale's GBTC, Bitwise's BITB and Ark 21Shares' ARKB, recorded no inflows or outflows on the day.

The fund withdrawals come as macroeconomic uncertainty spreads. Since Kevin Warsh took office as Federal Reserve chair, expectations for interest-rate cuts this year have all but vanished in the market. Bitcoin has also fallen below $76,000, further dampening investor appetite for the funds.

Market anxiety has intensified after Strategy said it plans to sell Bitcoin this year. Bitcoin was trading in the $75,600 range on Binance's Tether market on May 22. It was the first time the cryptocurrency had fallen below $76,000 since April 20.