US spot Bitcoin ETFs recorded six straight days of outflows, cutting 2026 net inflows to $536 million.
Bitcoin News
US spot Bitcoin (BTC) exchange-traded funds recorded six straight days of net outflows through Friday, May 22, draining $1.55 billion from the market over that stretch and cutting total 2026 net inflows to $536 million, according to data from Farside Investors. The run began after May 14, the last session in which all funds combined recorded a net inflow.
May 22 alone saw $105.2 million exit the funds. BlackRock's iShares Bitcoin Trust, known as IBIT, accounted for $68.9 million of that total, and the Fidelity Wise Origin Bitcoin Fund contributed outflows of $36.3 million. No other US-based $BTC ETF recorded a change in flows on the day.
IBIT has generated $2.7 billion in net inflows year-to-date, making it the primary driver of the market's still-positive 2026 balance. Its current pace, however, falls well short of the $25 billion it attracted throughout 2025. Most competing funds have posted net outflows this year.
Institutional market maker Jane Street cut its Bitcoin ETF holdings by roughly 70% in the first quarter. Goldman Sachs reduced its position by 10% over the same period. Ethereum ($ETH) ETFs have also recorded net outflows in 2026, and newer altcoin ETF products have not attracted the same demand as BTC and ETH funds did at launch.
One positive development has been the entry of the Morgan Stanley Bitcoin Trust ETF, or MSBT, which launched on April 8. It has already drawn $264 million in net inflows, placing it ahead of the Invesco and WisdomTree Bitcoin products that launched in January 2024.
Morgan Stanley set its fee at 0.14%, the lowest in the market. Bloomberg ETF analyst James Seyffart suggested the competitive fee environment may have been a factor in Yorkville America's decision to withdraw multiple crypto ETF filings it had submitted on behalf of Trump's Truth Social media company. The withdrawal was requested on May 19.
Net inflows into US spot $BTC ETFs remain one of the primary gauges of institutional demand for the asset. With the cumulative 2026 figure now at $536 million and falling, the market is approaching net outflow territory for the year for the first time since the products launched.
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