U.S. crypto exchange-traded funds (ETFs) continued to face sustained selling pressure on May 29, as investors withdrew capital from both Bitcoin and Ethereum investment products amid ongoing market uncertainty.
According to data shared by SoSoValue, U.S. spot Bitcoin ETFs recorded net outflows of approximately $125 million on May 29, marking the 10th consecutive trading day of withdrawals from Bitcoin-focused funds.
The latest figures extend a trend that has weighed heavily on institutional sentiment throughout May. Earlier reports showed that Bitcoin ETFs had already experienced more than $4 billion in cumulative outflows since May 7, reflecting a prolonged period of cautious positioning among investors.
Bitcoin ETFs continue multi-week selling trend
The recent outflows add to a broader wave of ETF redemptions that has persisted across several weeks.
Earlier this week, Bitcoin ETFs recorded a single-day outflow of $733 million, with major products from asset managers including BlackRock, Fidelity, and Grayscale contributing to the selling pressure. BlackRock’s iShares Bitcoin Trust (IBIT), which had previously led inflows for much of the year, was among the largest contributors to recent withdrawals.
Analysts say the sustained outflows suggest investors are reducing exposure to risk assets as geopolitical tensions, macroeconomic uncertainty, and volatility across financial markets continue to weigh on sentiment.
Ethereum ETFs extend losing streak
Ethereum investment products also remained firmly under pressure. According to SoSoValue data, U.S. spot Ethereum ETFs registered net outflows of approximately $17.91 million on May 29, extending their outflow streak to 14 consecutive trading days.
The latest withdrawals add to a broader trend of sustained selling pressure in Ethereum-focused funds. Earlier this month, spot Ethereum ETFs recorded more than $86 million in outflows following six consecutive days of losses, with the largest single-day redemption occurring on May 12 when investors withdrew nearly 55,840 ETH from the funds. The continued outflows highlight growing caution among institutional investors despite Ethereum’s central role in decentralized finance, tokenization, and stablecoin infrastructure.
While Ethereum ETF withdrawals have been smaller than those seen in Bitcoin products, the prolonged selling trend indicates that institutional demand for crypto exposure remains subdued across the broader digital asset market.
Risk-off sentiment continues to impact crypto markets
The ETF outflows come as crypto markets face a combination of geopolitical and macroeconomic headwinds. Recent tensions in the Middle East, concerns over global economic growth, and uncertainty surrounding monetary policy have pushed many investors toward a more defensive stance.
The continued withdrawals also mirror recent findings from CoinShares, which reported $1.47 billion in digital asset fund outflows last week, including the largest weekly Bitcoin outflow of 2026.
Market participants will now be watching whether ETF flows stabilize in the coming weeks or whether institutional investors continue reducing exposure as broader market risks persist.
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