The trend of withdrawals from US spot Bitcoin ETFs continues. According to SoSoValue data, these products have seen net outflows for 10 consecutive trading days, with a cumulative outflow of $2.96 billion, marking the longest consecutive net outflow record since their inception.
Negative cash flow during the year
This round of net outflows began on May 15. As funds continue to withdraw, the assets under management of the US spot Bitcoin ETF have fallen to approximately $94 billion, a significant drop from over $104 billion at the start of this outflow.
The cumulative net inflow since the product's launch has also decreased from approximately $57 billion at the beginning of the year to $55.66 billion, turning the cash flow performance since 2026 into a negative value.
US stocks strengthened while cryptocurrencies faced pressure.
Despite capital outflows, US stocks continued to rise. The S&P 500 has repeatedly hit record highs since May 26, recently reaching 7620 points, with gains primarily driven by the AI and semiconductor sectors.
In contrast, Bitcoin continued its decline after failing to break through the $82,000 level. CoinGecko data shows Bitcoin was last trading at approximately $72,600, down 1.6% on the day, about 6% over the past week, and about 7% over the past month.
Altcoin ETFs still see inflows
Despite continued pressure on Bitcoin ETFs, altcoin ETFs have not weakened across the board. The report mentions that five related product categories are still seeing inflows, with Hyperliquid, XRP, and Near-related funds continuing to attract funds.
Among them, the Hyperliquid ETF has recorded net inflows for 11 consecutive trading days. Its corresponding token, HYPE, has risen 15% in the past week and 74% in the past month, significantly outperforming the broader market.
Overall, ETF funds are shifting from the Bitcoin theme to more diversified allocations. Bitcoin products continue to lose funds, while a few highly volatile altcoin-related products are still attracting new capital, indicating a divergence in funding preferences within the current crypto market.
