Bitcoin ETFs See $96.14M Outflow, Ending IBIT’s 20-Day Inflow Streak

BlackRock’s iShares Bitcoin Trust (IBIT) has experienced a significant shift in investor sentiment, as its 20-day inflow streak was broken on May 13. This marks the first day since April 14 that the fund has seen no new investor inflows, coinciding with a broader retreat from spot Bitcoin ETFs.

On May 13, the twelve spot Bitcoin ETFs collectively saw outflows totaling $96.14 million. Fidelity’s FBTC led the day’s negative flow with a $91 million outflow, followed by Hashdex’s DEFI with $4.7 million exiting the fund. This widespread pullback highlights a temporary loss of investor confidence in Bitcoin ETFs, despite IBIT’s previous strong performance.

The halt in IBIT flows ends one of its most notable runs since its launch. Although the current streak did not surpass its 2024 record of 104 consecutive days of inflows, it underscores the sustained institutional interest in Bitcoin exposure. IBIT’s performance over the past month included several standout days, such as April 28, when it attracted $970 million in a single day, its second-highest daily inflow since launching in January 2024. The fund also brought in $674 million on May 2, $643 million on April 23, and $531 million in new capital on May 5.

In total, IBIT added more than $5 billion during the 20-day streak. Year-to-date, its inflows exceed $7 billion, helping it outperform traditional funds like SPDR Gold Shares (GLD), which brought in around $6.5 billion in the same period. IBIT remains the dominant spot Bitcoin ETF by net assets, currently managing more than $65 billion in assets and controlling more than 3% of BTC’s circulating supply.

This recent outflow from Bitcoin ETFs suggests a temporary shift in investor sentiment, possibly due to market volatility or other external factors. However, the overall trend of institutional investment in Bitcoin remains robust, as evidenced by IBIT’s strong performance over the past year. Investors will be closely watching how this trend develops in the coming weeks, as the market continues to evolve and adapt to changing conditions.