Record $3.4 Billion Withdrawn from Bitcoin ETFs Amid AI Stock Surge
Bitcoin's biggest ETF selloff yet hits $3.4 billion as AI stocks keep climbing
Image: Coindesk
U.S. spot bitcoin ETFs experienced a historic selloff, with net outflows reaching approximately $3.45 billion over 11 consecutive sessions, coinciding with a rise in AI and semiconductor stocks. The latest session saw withdrawals of $484 million, contributing to a 4% drop in bitcoin's price.
- 01Bitcoin ETFs recorded their longest redemption streak since their launch in January 2024, with withdrawals starting on May 15.
- 02The selloff coincided with a robust performance in AI stocks, particularly a 6% increase in Nvidia's share price.
- 03Strategy (MSTR), the largest corporate bitcoin holder, sold 32 BTC for approximately $2.5 million, marking its first sale since December 2022.
- 04CryptoQuant reported a slowdown in institutional demand for bitcoin, indicating a shift towards a market of holders rather than buyers.
- 05The current withdrawal streak suggests weakening demand that previously supported bitcoin's price rally.
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U.S. spot bitcoin ETFs have faced their most significant selloff, with net outflows totaling around $3.45 billion over 11 consecutive sessions. This marks the longest streak of redemptions since the funds were launched in January 2024, surpassing the previous record of eight days set in February 2025. The latest session saw an additional $484 million withdrawn, contributing to a 4% decline in bitcoin's price as it approached $70,000. The selloff aligns with a growing interest in AI and semiconductor stocks, highlighted by a 6% rise in Nvidia's stock. Additionally, Strategy (MSTR), which holds the largest corporate bitcoin reserves, sold 32 BTC, valued at approximately $2.5 million, to finance stock distributions, marking its first sale since December 2022. This trend, along with reports from CryptoQuant indicating a reduction in institutional demand, suggests that the factors driving bitcoin's previous rally may be diminishing.
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The significant outflows from bitcoin ETFs may influence market sentiment and investment strategies in the cryptocurrency sector.
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