Bitcoin ETF outflows hit $1.55 billion as institutional interest fades

US spot Bitcoin ETFs extended their losing streak, with another $105.2 million of net redemptions recorded on Friday, marking the sixth straight session of outflows. The pullback has cut 2026 year-to-date net inflows to $536 million, according to market data. BlackRock’s iShares Bitcoin Trust (IBIT) posted the largest daily withdrawal at $68.9 million. Fidelity’s Wise Origin Bitcoin Fund (FBTC) followed with $36.3 million of outflows. Other major US spot Bitcoin ETFs saw little change in flows. The latest moves add to a broader reversal in demand. Since May 14, the last day the group posted net inflows, about $1.55 billion has exited US Bitcoin ETFs—often viewed as a key barometer of institutional appetite for crypto exposure. Institutional positioning appears to be turning more cautious as well. In the first quarter, market-maker Jane Street reportedly cut its Bitcoin ETF exposure by about 70%, while Goldman Sachs reduced its holdings by roughly 10%. Even with the recent weakness, IBIT remains the best-performing US Bitcoin ETF in 2026, bringing in about $2.7 billion of net inflows for the year. That pace still trails far behind the roughly $25 billion the fund accumulated over 2025. The slowdown is not limited to Bitcoin products. US spot Ethereum ETFs have already moved into net outflows for 2026, and newer altcoin-focused ETF launches have struggled to attract meaningful demand. Analysts attribute the shift to a more selective institutional stance compared with the enthusiasm that followed the debut of spot Bitcoin ETFs in early 2024.