US spot Bitcoin ETFs recorded $1 billion in net outflows during the week ending May 15, marking the largest weekly withdrawal since late January and ending a six-week inflow streak.
According to data tracked by SoSoValue, the reversal came as Bitcoin traded near $79,000 while investors reacted to rising Treasury yields and stronger-than-expected inflation data in the United States.
The outflows ended the longest positive streak for Bitcoin ETFs since July 2025. During the six-week run, the products attracted around $3.4 billion in inflows, averaging roughly $568 million per week. April alone reportedly brought in $1.97 billion, making it the strongest month for Bitcoin ETF inflows in 2026 so far.
On May 15, the final trading day of the week, all 11 US spot Bitcoin ETFs posted outflows. Combined withdrawals for the day reached $290.42 million, with no single fund recording positive inflows.
Spot Ether ETFs also faced pressure, recording $255.11 million in weekly outflows and extending their own negative streak.
Despite the recent pullback, cumulative net inflows into US spot Bitcoin ETFs since their launch in January 2024 still stand at around $58.34 billion, while total assets under management remain above $104 billion.
A survey by Nickel Digital Asset Management found that 86% of institutional allocators and wealth managers still expect crypto ETF inflows to grow through 2026 as regulatory clarity improves. This suggests the latest outflow wave may reflect short-term market positioning rather than a long-term shift in institutional demand.
The broader macroeconomic environment played a major role in the reversal. April consumer inflation reportedly came in at 3.8%, while producer inflation matched levels last seen in 2022 at 6%.
Meanwhile, the US 10-year Treasury yield climbed to 4.54%, its highest level since May 2025, while CME FedWatch showed markets assigning more than a 44% probability of a Federal Reserve rate hike by December.
Analysts noted that similar macro-driven outflow periods occurred earlier this year before inflows later resumed. Earlier in January, BlackRock’s IBIT fund led the Bitcoin ETF market with more than $1 billion in weekly inflows, making its role in recent outflow activity especially important for overall market sentiment.
