Spot Bitcoin exchange-traded funds are seeing a historic exodus. For ten consecutive trading days, investors have pulled funds, with total net redemptions topping $2.97 billion since May 15. Daily outflows ranged from $70 million to $733 million, with the largest single-day withdrawal hitting $733.43 million on Wednesday. Total net assets have dropped from $104.29 billion to $94.17 billion in just two weeks.
Crypto analytics firm Santiment Intelligence says this streak could be a contrarian indicator, suggesting the market is approaching a bottom. They note that extreme outflows often precede price recoveries, citing the nearly $904 million single-day outflow in November 2025, which occurred near a major market low before a rebound.
Spot Ether ETFs are facing a similar trend, with 14 consecutive days of outflows totaling about $2.6 billion in assets lost. Meanwhile, spot Hyperliquid ETFs have bucked the trend, recording inflows every session since their May 12 launch, with net assets exceeding $122 million.