As a researcher tracking the market, I’ve observed that US spot Bitcoin ETFs experienced their ninth day in a row of net outflows on May 28th. Overall, around $228.88 million was withdrawn from these 13 funds, with BlackRock’s IBIT accounting for a significant portion of that outflow at $177.94 million.
Since May 14th, investors have pulled over $2 billion out of current Bitcoin products, undoing weeks of gains. This shift is likely due to signals from the Federal Reserve suggesting they may raise interest rates, combined with increasing oil prices, both of which are impacting investments considered risky.
Institutional Selling Accelerates
Bitcoin ETFs experienced significant outflows on Wednesday, with BlackRock’s iShares Bitcoin Trust leading the way at $177.94 million in redemptions, according to SoSoValue data. Grayscale’s GBTC saw $26.19 million withdrawn, and Fidelity’s FBTC experienced $19.16 million in outflows.
Even with recent selling, the 13 US Bitcoin ETFs still manage a total of $94.25 billion in assets, representing about 6.39% of all Bitcoin in circulation. Overall, these ETFs have seen $55.79 billion flow in since they launched, indicating that the recent withdrawals haven’t wiped out the earlier investments from institutions.
As of today, Bitcoin is trading at $73,504. Over the last week, its price has dropped by 5.39%, and it’s currently about 42% lower than its peak price of over $126,000 reached in October 2025, according to BeInCrypto data.
Investors are pulling money out of the market mainly because the Federal Reserve is now expected to hold interest rates higher for longer, and because of continued instability in the Middle East with US-Iran tensions. Goldman Sachs now predicts the first potential rate cut won’t happen until December 2026, and rising oil prices are pushing overall inflation up, exceeding the Fed’s 2% goal.
It’s still unclear if this winning streak will continue into a tenth day. We’ll know more once we receive the latest data on Thursday, after US markets have closed.
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2026-05-29 09:31