In May, US spot Bitcoin ETFs saw a net outflow of $2.4 billion.

US spot Bitcoin ETFs have experienced outflows for 11 consecutive trading days, with a net outflow of $2.4 billion in May. On Monday, Bitcoin ETFs saw a net outflow of $484 million, with BlackRock's IBIT accounting for $440 million of that amount. Only Morgan Stanley's MSBT recorded a net inflow of $6.14 million on the same day. The cumulative net outflow over the past 11 trading days has reached $3.45 billion. May's net outflow of $2.43 billion marks the largest monthly outflow since November 2025. Bitrue researcher Andri Fauzan Adziima attributed the May ETF outflows to rising inflation, higher Treasury yields, and diminished expectations of interest rate cuts, leading institutions to reallocate funds from crypto ETFs to AI-related stocks. Adziima characterized the current negative trend as a cautious, risk-averse maneuver rather than a rejection of Bitcoin. He also cited ongoing US-Iran tensions and Strategy's first Bitcoin sale in years as contributing factors to the Bitcoin decline, noting that the timing of Strategy's potential sale announcement was ill-advised and undermined the company's "buy and hold" narrative.