Spot bitcoin exchange-traded funds in the U.S. saw their largest weekly net outflows since February 2025.
According to data from SoSoValue, the bitcoin ETFs reported $1.72 billion in net outflows last week. The funds posted sizable net outflows throughout the week, with the exception of Thursday, when they reported $3 million in net inflows.
Notably, BlackRock's IBIT, the largest bitcoin ETF by net assets, recorded $1.34 billion worth of outflows last week, marking its largest weekly net outflow since its launch in January 2024.
This extends the negative flow trend from May, when the funds recorded $2.43 billion in monthly net outflows.
Andri Fauzan Adziima, research lead at Bitrue Research Institute, told The Block that last week's ETF outflows were primarily driven by macroeconomic headlines, especially the recent U.S. jobs data.
"The strong May 2026 [non-farm payroll] report reinforced a resilient labor market, crushed near-term Fed rate-cut odds, and drove Treasury yields higher, making yielding bonds far more attractive than non-yielding bitcoin," said Adziima.
This, combined with geopolitical uncertainty, triggered a broad risk-off move in recent sessions, affecting not only digital asset markets but also other sectors, including AI, tech stocks, and gold.
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South Korea's Kospi, which had benefited from a strong tech- and AI-driven rally in recent weeks, fell 8.29% at closing on Monday. Other major Asian markets also declined, with Japan's Nikkei 225 dropping 3.85% and Taiwan's TAIEX index falling 3.48%.
"I expect flows to stay pressured early June but stabilize or turn modestly positive mid-to-late month as fear bottoms, June seasonality helps, and any macro relief sparks relief inflows," Adziima told The Block.
Meanwhile, bitcoin (BTC) saw a fair amount of recovery over the weekend, rising to briefly touch $64,000 before stabilizing around $63,000. Analysts explained that this rebound was a classic case of an "oversold relief rally," following last week's sharp sell-off that pulled the cryptocurrency down 15%.