Spot Bitcoin ETFs Record $1 Billion Weekly Net Outflows, Ending Six-Week Inflow Streak

Spot Bitcoin exchange-traded funds (ETFs) recorded $1 billion in weekly net outflows, ending a six-week inflow streak, according to TradingView’s summary of SoSoValue data.

“Bitcoin Price Drops As ETF Outflows Rise, Liquidations Jump BTC’s price could be at risk of more downside in the near future as third-party data points to waning demand”

Benzinga

The week’s outflows were driven by Tuesday’s $233.25 million pullback, Wednesday’s $635.23 million worst single day, and Friday’s additional $290.42 million exit that sealed the week in the red at exactly $1 billion.

Benzinga

Cointelegraph also tied the reversal to SoSoValue, saying the week’s selling left total net assets sitting at $104.29 billion and cumulative net inflows across all products at $58.34 billion.

In a separate SoSoValue breakdown, bloomingbit reported that the 13 US-listed spot-Bitcoin ETFs recorded combined net outflows of $290.42 million on May 15, with BlackRock’s IBIT leading at $136.25 million withdrawn on the day.

While spot Bitcoin ETFs saw outflows, Santiment said sentiment around Bitcoin’s near-term price direction picked up as momentum built behind the US CLARITY Act, which aims to provide the crypto industry with greater regulatory clarity.

Santiment attributed the shift to social media reaction after the Senate Banking Committee advanced the CLARITY Act in a 15–9 bipartisan vote, saying “Bitcoin has seen a major spike of euphoria across social media” following the news.

bloomingbit

LCX Exchange also reported that in a Thursday session of the US Senate Banking Committee, all 13 Republican members and two Democrats voted to advance the Digital Asset Market Clarity Act (CLARITY), with nine Democrats also voting no on the bill.

White House crypto advisor Patrick Witt said in an X post on Friday that while the CLARITY Act vote was “a major step forward,” it is not yet finalized, adding “there’s more work to be done before this legislation is ready for prime time.”

Benzinga linked the ETF outflow pressure to broader macro concerns, saying spot Bitcoin ETFs suffered a $1 billion outflow this week and that the Coinbase Premium Index has remained in the red since April 28.

It also pointed to inflation data, stating the headline Consumer Price Index jumped to 3.8% and the headline Producer Price Index jumped to 6.0%, with Wall Street analysts expecting the Fed will find it hard cutting rates this year.

On Ethereum, MEXC reported that spot Ethereum ETFs recorded net outflows each day of trading this week, with total weekly outflows exceeding 255 million dollars, describing the sentiment around ETH as remaining under pressure.

TradingView added that spot Ether ETFs recorded outflows across all five trading days last week, with Tuesday the worst session at $130.62 million exiting the products and the five-day streak wiping $254.46 million from the funds.