Bitcoin ETF Losses Near $3B Across 10 Days as YTD Flows Turn Negative

U.S. spot Bitcoin exchange-traded funds have now posted 10 consecutive days of net outflows, extending their longest ever sustained withdrawal streak and pushing year-to-date flows into negative territory for the first time in 2026.

The streak, which began on May 15, has drained nearly $3 billion from the products, according to SoSoValue data.

It marks a third consecutive week of outflows across all digital asset investment products—a pattern that CoinShares described as reminiscent of a January−to−February episode that produced five straight weeks of withdrawals, in their recent report.

Assets under management across spot Bitcoin ETFs have fallen to roughly $94 billion, down from over $104 billion at the start of the streak.

The scale of the selloff goes beyond routine profit-taking, with Galaxy Research analysts assessing the outflow trend earlier in the streak and characterizing the moves as “real directional recalibration” rather than hedge adjustments, Decrypt previously reported.

That assessment has only hardened as the streak deepened, with cumulative net inflows since inception sliding from $57 billion at the start of the year to $55.66 billion—flipping the 2026 ledger negative.

Multiplying headwinds

Crypto markets are contending with multiple headwinds simultaneously: geopolitical tensions related to the Iran conflict, a restrictive Federal Reserve that markets expect to hold rates steady through June, and—perhaps most consequentially—a stock market that is simply outperforming.

The S&P 500 has continued to hit new all-time highs for consecutive days, starting on May 26. On Monday, the stock market index hit 7,620, a new record high. That uptrend is driven by a narrow group of AI and semiconductor stocks; Micron’s over-200 % surge following a presidential endorsement in late May is a key example, Decrypt previously reported.

Bitcoin is continuing to retreat after a failed breakout attempt near $82,000. It is currently down 1.6% and trading at around $72,600, according to CoinGecko data. The leading crypto is also down roughly 6% over the past week and 7% over the past month, underscoring the bearish sentiment pervading across the crypto market. Users on prediction market Myriad, owned by Decrypt’s parent company Dastan, echo this negative outlook, putting a 39% chance on Bitcoin’s next move taking it to $55,000, up from under 10% on May 7.

While capital flees Bitcoin ETFs, CoinShares reported that altcoin participation in weekly flows is now concentrated in just five assets, down from eleven three weeks ago. But the assets still attracting capital paint a different picture: XRP led with $20.3 million, followed by Hyperliquid at $10.8 million and Near at $7.6 million.

Hyperliquid ETFs, in particular, have posted inflows for 11 consecutive days, a streak that coincides with the underlying token’s sustained uptrend. HYPE has surged 15% over the past week and 74% over the past month.

A similar explosive rally was noted with Near Protocol’s NEAR token, which is up 80% in the past month, driven by privacy and AI-related updates.