SoSoValue

Bitcoin

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James

<ul>
 <li>Assets held by crypto ETPs have dipped to $141 billion, their weakest level since early April, as Bitcoin dropped below $71,000.</li>
 <li>U.S. crypto funds accounted for $1.63B in withdrawals, while spot Bitcoin ETFs lost almost $3B over 10 trading days.</li>
</ul>
Bitcoin exchange-traded funds posted their biggest weekly outflow of 2026 as BTC dropped below $71,000. Crypto exchange-traded products <a href="https://x.com/CoinSharesCo/status/2061380681402302856?s=20" rel="noopener noreferrer nofollow">posted</a> $1.67 billion in outflows last week, according to CoinShares. The figure marked the second-largest weekly withdrawal of the year and extended the losing streak across digital asset funds to three weeks.
Total outflows across the three weeks reached $4.21 billion. Assets under management also fell to $141 billion, marking the lowest level since early April. The drop showed a sharp shift in fund flows after earlier optimism around U.S. crypto policy.
Bitcoin funds led the sell-off with $1.44 billion in weekly outflows. CoinShares said this was the largest weekly exit for Bitcoin products so far in 2026. Month-to-date losses for Bitcoin funds reached $2.4 billion, while year-to-date inflows stood near $1.2 billion.
<blockquote class="twitter-tweet">
 <img src="https://s.w.org/images/core/emoji/17.0.2/72x72/1f4c9.png" alt="📉"> Crypto ETPs and ETFs saw outflows of US$1.7B last week.<a href="https://x.com/Bitcoin?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@Bitcoin</a> saw US$1.4M of outflows, the largest weekly outflow of 2026. <a href="https://x.com/ethereum?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@ethereum</a> saw US$257M of outflows. XRP (<a href="https://x.com/Ripple?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@Ripple</a>) at US$20.3M, <a href="https://x.com/HyperliquidX?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@HyperliquidX</a> at US$10.8M and <a href="https://x.com/NEARProtocol?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@NEARProtocol</a> at US$7.6M are the only notable inflows.
 <img src="https://s.w.org/images/core/emoji/17.0.2/72x72/1f1fa-1f1f8.png" alt="🇺🇸">… <a href="https://t.co/CTLUjzrx3n" rel="noopener noreferrer nofollow">pic.twitter.com/CTLUjzrx3n</a>
 — CoinShares (@CoinSharesCo) <a href="https://x.com/CoinSharesCo/status/2061380681402302856?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 1, 2026</a>
</blockquote>
BTC also struggled in the spot market. The asset traded just below $71,000 after losing ground from a failed move toward $82,000. Bitcoin fell about 8.4% over the past week and remained under pressure as traders watched support near current levels.

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U.S. spot Bitcoin ETFs also <a href="https://ethnews.com/bitcoin-etfs-bleed-as-exchange-inflows-hit-30-day-high-heres-the-next-level-to-watch/" rel="noopener noreferrer nofollow">faced</a> their longest withdrawal streak on record. SoSoValue data showed 10 straight days of net outflows, with nearly $3 billion leaving the products since May 15. Assets under management for spot Bitcoin ETFs dropped from above $104 billion to about $94 billion during the period.
<h2 id="b-u-s-funds-lead-the-bitcoin-etf-sell-off-b">U.S. Funds Lead the Bitcoin ETF Sell-Off</h2>
The United States drove most of the global losses. CoinShares reported $1.63 billion in outflows from U.S. crypto investment products, closely matching heavy withdrawals from U.S.-listed spot Bitcoin ETFs.
Germany also recorded $25.7 million in outflows, while Sweden and Hong Kong posted smaller exits. The Netherlands stood out with $1.3 million in inflows, though that figure fell from the previous week.
CoinShares head of research James Butterfill linked the outflows to a broader risk-off move tied to the Iran conflict. He said the selling pressure had now outweighed support from progress around the CLARITY Act. He compared the pattern with the January-February sell-off, when crypto funds recorded five straight weeks of withdrawals.
Ether funds also saw pressure, with $257.3 million in weekly outflows. Year-to-date losses for Ether products reached $346 million, showing that the weakness spread beyond Bitcoin.
Altcoin demand narrowed sharply. Only five assets attracted inflows above $1 million, down from nine one week earlier and eleven three weeks earlier. XRP led the positive flows with $20.3 million, followed by Hyperliquid with $10.8 million and Near with $7.6 million.
Derivatives desk Laser Digital said the latest crypto sell-off came without one clear trigger. The desk pointed to weaker crypto demand, stronger equity performance, and limited retail interest. It also noted that Strategy did not buy Bitcoin between May 18 and May 24.&nbsp;
Previously, <a href="https://ethnews.com/expert-says-saylor-is-running-out-of-road-as-strategy-offloads-btc-to-coinbase/" rel="noopener noreferrer nofollow">Strategy moved</a> 411.48 BTC to Coinbase Prime as MSTR shares weakened. Strategy used $1.38 billion in cash to repurchase 2029 notes.
Binance Bitcoin inflows rose by about $5.6 billion across retail and whale cohorts between April and June. Traders often watch rising exchange inflows as a sign of short-term selling risk.
However, larger wallets also returned to accumulation. Wallets holding 1,000 to 10,000 BTC added 55,450 Bitcoin on May 30, marking their strongest buying activity since February. That activity showed that some large holders increased exposure while ETF investors pulled capital from the market.
Technical signals also turned mixed. Bitcoin flashed a TD Sequential buy signal on the 12-hour chart after recent weakness. Some traders now <a href="https://x.com/alicharts/status/2060817035676803349?s=20" rel="noopener noreferrer nofollow">watch</a> the $75,000 area as a possible rebound target, though exchange inflows still point to near-term caution.
The post <a href="https://ethnews.com/bitcoin-etfs-record-largest-weekly-outflow-as-btc-struggles-below-73k/" rel="noopener noreferrer nofollow">Bitcoin ETFs Record Largest Weekly Outflow as BTC Struggles Below $71K</a> appeared first on <a href="https://ethnews.com" rel="noopener noreferrer nofollow">ETHNews</a>.

Bitcoin ETFs Record Largest Weekly Outflow as BTC Struggles Below $71K

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