U.S. Spot Bitcoin ETFs See $630M Outflow, Largest in Three Months
U.S. spot Bitcoin ETFs recorded $630.4 million in net outflows on May 13, the largest single-day exit in over three months. BlackRock's IBIT led with $284.7 million in redemptions, followed by ARKB ($177.1M), FBTC ($133.2M), and BITB ($35.4M). The outflows were triggered by higher-than-expected U.S. inflation data (CPI at 3.8%, PPI at 6%), which shifted expectations toward potential Fed rate hikes, causing broad risk aversion in markets. Analysts noted increased bearish derivatives positioning, including deleveraging of long positions and a rising put/call ratio. However, some experts view the move as profit-taking and healthy consolidation rather than a structural decline in institutional demand. Prediction markets show low odds of oil disruption easing but high probability of Bitcoin reaching $84,000 over $55,000. Bitcoin traded at $79,540, down 1.6% in 24 hours.
Key facts
- U.S. spot Bitcoin ETFs saw $630.4M outflows on May 13, largest since Jan 29.
- BlackRock's IBIT led with $284.7M redemptions; ARKB, FBTC, BITB also saw outflows.
- Outflows driven by higher-than-expected April CPI (3.8%) and PPI (6%) data.
- Analysts flag rising bearish sentiment via put/call ratio and long deleveraging.
- Some view sell-off as profit-taking; Bitcoin trades at $79,540, down 1.6%.