Spot Bitcoin ETFs post $1.26B weekly outflow; spot Ethereum ETFs extend outflow streak to 10 days

U.S. spot Bitcoin ETFs logged net outflows of about $1.26 billion for the week ended May 23, the largest weekly withdrawal since late January, and extending their run of net redemptions to six straight trading sessions, Huo Xing Finance reported. Flow data show roughly $649 million left the category on Monday alone. Daily outflows eased later in the week, but redemptions remained persistent overall. Traders cited higher U.S. Treasury yields, a firmer U.S. dollar and elevated geopolitical tensions as key drivers of the pullback. Spot Ethereum ETFs also stayed under pressure, recording net outflows for 10 consecutive days—the longest streak since March 2025—with weekly withdrawals totaling about $216 million. BlackRock's iShares Bitcoin Trust (IBIT), which manages around $61.1 billion in assets, is still about $3.7 billion below its cumulative net inflows, underscoring the impact of recent price volatility on portfolio values. By the close of ETF trading, Bitcoin hovered near $77,500 and Ethereum around $2,130, with both trading in tight consolidation ranges. Even after the recent drawdown, spot Bitcoin ETFs have attracted roughly $57.1 billion of net inflows since launch, and total assets under management stand at about $98.9 billion.