U.S. spot Bitcoin ETFs recorded a net outflow of $347 million on May 29, marking the first collective day of redemptions in over two weeks. According to data from CoinGlass, this broke a 10-day inflow streak across all 11 ETFs , with the last similar pullback occurring on May 13. This outflow also marks the largest single-day capital flight since March 11, when investors pulled $396 million from the funds. The sharp outflow followed a drop in Bitcoin’s price, which fell over 3.5% during the day. The world’s largest cryptocurrency slid from an intraday high of $108,850 to briefly dip below the $105,000 mark. The pullback in price appears to have triggered significant selling activity, especially among institutional ETF holders. Fidelity and Grayscale Lead the Exodus The Fidelity Wise Origin Bitcoin Fund (FBTC) bore the brunt of the outflows, losing $166 million in a single day. The Grayscale Bitcoin Trust (GBTC) followed with a $107.5 million outflow. Other notable exits included funds managed by Bitwise, Ark 21Shares, Invesco, Franklin Templeton, and VanEck. Meanwhile, CoinShares, WisdomTree, and Grayscale’s mini Bitcoin trust reported no flows for the day. Despite the general downtrend, BlackRock’s IBIT continued to attract capital , recording $125 million in net inflows. The fund has now notched up 34 consecutive days of inflows, having last seen a redemption on April 9. Over the past two weeks alone, IBIT has brought in nearly $4 billion, pushing its total net inflows to $49 billion and assets under management beyond the $70 billion mark. Ethereum ETFs Attract Capital Amid Bitcoin Outflows Interestingly, spot Ethereum ETFs defied the bearish trend affecting Bitcoin products. On the same day, they collectively logged $92 million in net inflows, extending their own 10-day inflow streak. The last day of outflows for these funds was May 15. BlackRock’s iShares Ethereum Trust (ETHA) was once again the front-runner, bringing in just over $50 million in new capital. The fund has now accumulated $4.5 billion in inflows since its launch in July 2024. Commenting on the broader outlook, ETF Store President Nate Geraci highlighted a significant capital rotation, noting that while more than $9 billion has flowed into spot Bitcoin ETFs in the past five weeks, gold ETFs have lost nearly $3 billion in the same timeframe. He also pointed to recent SEC clarity on staking, calling it a major step forward for Ethereum ETF products. The post Bitcoin ETFs See First Joint Outflow in Weeks as Market Dips appeared first on TheCoinrise.com .