Spot Bitcoin exchange-traded funds experienced a sharp reversal on May 13, with $635.23 million exiting the products. That marks the largest single-day outflow since January 29, according to SoSoValue data.
The outflows extended to a second consecutive day, threatening to break a six-week streak of positive weekly inflows. The sustained withdrawals suggest a shift in investor sentiment toward the largest cryptocurrency by market cap.
While Bitcoin funds bled capital, Solana-based ETFs continued to attract inflows, flashing green during the same period. This divergence highlights growing appetite for alternative crypto asset exposure even as Bitcoin faces headwinds.
The trend raises questions about whether institutional confidence in Bitcoin is waning or if this is a temporary profit-taking phase. Market observers will watch weekly flow data closely to determine if the outflow pattern persists.
BeInCrypto, which first reported the figures, noted that the data draws from SoSoValue's tracking of U.S.-listed spot Bitcoin ETFs. No other major sources have independently confirmed the exact outflow figures at this time.