US Bitcoin ETF See $616M Outflows; BlackRock Leads the Exit with $430.8M

US Spot Bitcoin ETF (exchange-traded funds) saw a massive net outflow on May 30, 2025. According to Farside Investors’ data, the 11 approved spot Bitcoin ETFs together shed $616.1 million.

BlackRock’s iShares Bitcoin Trust (IBIT) accounted for the lion’s share of the outflow, with investors redeeming $430.8 million on that day.

That single-day withdrawal not only ended IBIT’s 31-day inflow streak but also set a new record: it exceeded the fund’s prior largest outflow (about $418.1M on Feb 26) by $12.7 million.

The pullback on May 30 capped two days of heavy outflows. On May 29, the ETF complex saw $346.8 million leaving, ending a 10-day inflow run.

That outflow was the largest since $396 million fled the funds on March 11, 2025. By contrast, only a week earlier (the week ending May 23), the funds had attracted about $2.75 billion in net inflows – roughly 4.5 times the prior week’s $608 million.

Inflows in mid-May helped send Bitcoin’s price to fresh highs, but the late-month redemptions reversed some of that momentum.

US Bitcoin ETF: BlackRock IBIT Bears the Brunt

As the largest Bitcoin ETF, BlackRock’s IBIT saw the steepest decline. The $430.8M redemption on May 30 was the ETF’s biggest daily outflow since its January 2024 launch.

By comparison, the fund had amassed nearly $4 billion in net inflows over the two prior weeks. Those inflows had driven IBIT’s total assets under management to about $70 billion in Bitcoin holdings.

In fact, ETF analyst Nate Geraci noted the fund’s rapid accumulation: “What a run over the past 30+ days…now pushing approximately $70 billion in Bitcoin holdings since it launched,” he wrote, calling the trend “ridiculous.”

IBIT’s extraordinary scale meant the outflow was correspondingly large. The $430.8 million withdrawal on May 30 topped its previous record by roughly $12.7 million. Prior to May 30, the fund’s worst single day had been Feb. 26, when about $418.1 million exited.

The sharp reversal underscores how heavily the market had been riding the IBIT wave. Overall, U.S. spot Bitcoin ETFs have seen about $44.35 billion in net inflows since debuting in January 2024 – a figure now offset in part by these late-May outflows.

Analysts: “Not a Retail Panic”

Market observers were quick to weigh in on the sell-off. Kyle Chasse, founder of Master Ventures, pointed out that on May 29, every other ETF issuer was bleeding money except BlackRock.

“Every other issuer saw red. BlackRock kept buying…big brain energy right there,” he quipped on social media. Chasse emphasized that the sell-off didn’t appear driven by panicking retail investors. “The sell-off isn’t retail panic. It’s literally the quiet transfer of supply to the strongest hands,” he said.

His remark suggests a view that large, long-term holders are absorbing the redemptions, rather than a broad-based rush for the exits.

Geraci echoed a tone of amazement at the scale of moves rather than alarm. The ETF specialist noted that BlackRock’s fund alone had drawn over $6.2 billion in May, making the price action even more striking.

At the same time, he observed that US Bitcoin ETF inflows in recent weeks had eclipsed outflows from competing funds like gold ETFs, highlighting the shifting institutional appetite. In short, analysts see the recent outflows as a pause or rotation, not a systemic panic.

Bitcoin Price Reaction

BTC price has reflected this tug-of-war between demand and supply. The cryptocurrency surged to record highs in late May as ETFs raked in cash.

For example, on May 21 US Bitcoin ETFs saw $607.1M of inflows, coinciding with Bitcoin clearing the $109,000 mark. By May 22–23, it hit a fresh all-time high of $111,970. At its peak on May 24, CoinMarketCap data showed Bitcoin trading around $108,141.

By the end of May 30, however, Bitcoin price had eased to roughly $103,700. This was about a 2.3% drop over the prior 24 hours, even as Bitcoin remained roughly 9% higher than one month earlier.

Traders attributed the pullback partly to the ETF outflows. The sudden $616 million redemption placed short-term selling pressure on the spot market.

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