Bitcoin ETFs Record $4.4B Outflows Over 13-Day Withdrawal Run

TLDR

• Bitcoin ETFs recorded $396.6 million in outflows on Wednesday, extending the streak to 13 consecutive trading days.
• Total withdrawals reached about $4.4 billion, surpassing the previous record of eight straight days of outflows.
• Bitcoin price dropped nearly 21% from $80,000 to around $63,400 during the outflow period.
• BlackRock’s IBIT led exits with $3.3 billion, followed by Fidelity’s FBTC and Grayscale’s GBTC.
• CryptoQuant data showed Bitcoin demand fell by about 501,000 BTC, marking the fastest monthly decline since May 2022.

Bitcoin exchange-traded funds in the United States recorded continued withdrawals as selling pressure extended into a thirteenth session. Data showed $396.6 million left spot Bitcoin ETFs on Wednesday, pushing total outflows near $4.4 billion. Prices also declined, with Bitcoin falling from about $80,000 to nearly $63,400 during the same period.

Bitcoin ETFs Outflows Extend Record Streak

US-listed spot Bitcoin ETFs registered their longest withdrawal run, reaching 13 consecutive trading days of net outflows. The streak surpassed the prior record of eight sessions recorded in February 2025, when $3.2 billion exited funds. Data from SoSoValue confirmed cumulative withdrawals reached about $4.4 billion over the current period.

BlackRock’s iShares Bitcoin Trust led redemptions, accounting for roughly $3.3 billion of total outflows. Fidelity’s Wise Origin Bitcoin Fund followed with about $456.6 million, while Grayscale Bitcoin Trust recorded approximately $303.6 million. These combined withdrawals represented a large share of total capital leaving spot Bitcoin ETFs.

Market Pressure Builds as Bitcoin Demand Weakens

Bitcoin price has declined by nearly 21% since May 15, reflecting weaker demand across institutional and retail channels. CoinGecko data showed the asset fell from around $80,000 to approximately $63,400 during the outflow period. Analysts linked the drop to ETF demand slowdown, miner selling pressure, and long-term holder distribution.

CryptoQuant’s Julio Moreno said demand fell by about 501,000 BTC over the past month. He described the drop as “the fastest monthly decline since May 2022,” comparing it to the post-Terra-collapse period. The data suggested reduced buying activity across major market segments.

Institutional Flows and Market Dynamics Remain Mixed

Bloomberg ETF analyst Eric Balchunas said long-term institutional buyers still accumulated Bitcoin during the recent period. He stated, “Forget the boomers; someone needs to call the OGs; they are behind this.” His comment pointed to early holders as possible contributors to current selling pressure.

CryptoQuant founder Ki Young Ju said early investors and miners have transferred supply toward institutional buyers. He added that this shift may strengthen long-term ownership trends despite current selling pressure. Standard Chartered’s Geoffrey Kendrick said ETF holdings stayed broadly stable since February despite recent volatility.

Over the past 30 days, Bitcoin ETFs recorded outflows of about 51,726 BTC, valued at nearly $5 billion. WalletPilot data showed BlackRock held about 786,800 BTC, while Fidelity and Grayscale followed with smaller holdings. Kendrick also referenced Strategy’s 32 BTC sale, stating it reinforced short-term bearish narratives.

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