U.S.-listed spot Bitcoin exchange-traded funds posted approximately $635.2 million in net outflows on May 13, marking the largest daily withdrawal from Bitcoin ETFs since January. The sharp reversal in institutional flows came as Bitcoin briefly fell below the $80,000 level following stronger-than-expected U.S. inflation data and rising Treasury yields.
According to ETF flow data from SoSoValue and market trackers, BlackRock’s iShares Bitcoin Trust (IBIT) recorded the largest outflow of the session at approximately $284.7 million. Fidelity’s FBTC saw another $133.2 million leave the fund, while Ark 21Shares’ ARKB experienced roughly $177.1 million in net outflows. Bitwise’s BITB also recorded withdrawals totaling approximately $35.4 million.
No major U.S. spot Bitcoin ETF recorded meaningful inflows during the session, highlighting a broad-based decline in institutional demand after several weeks of relatively stable accumulation. Bitcoin traded between $79,600 and $81,000 throughout the day before stabilizing near the $80,000 level late in the session.
The selloff followed the release of hotter-than-expected U.S. inflation data, which strengthened expectations that the Federal Reserve could keep interest rates elevated for longer than markets had anticipated. Analysts noted that higher yields and tighter liquidity conditions typically pressure risk assets, including cryptocurrencies and crypto-linked equities.
ETF Outflows Reverse Recent Institutional Momentum
The May 13 withdrawals interrupted what had been a relatively constructive period for Bitcoin ETF demand earlier in the month. Spot Bitcoin ETFs had collectively attracted more than $2 billion in inflows during April, with BlackRock’s IBIT continuing to dominate cumulative institutional allocations.
Market participants increasingly view ETF flows as one of the most important indicators of institutional sentiment within digital asset markets. Since the approval of U.S. spot Bitcoin ETFs, institutional capital flows have played a growing role in Bitcoin price formation and broader market liquidity conditions.
Despite the latest outflows, total assets under management across U.S. spot Bitcoin ETFs remain above $100 billion, according to aggregated market data. BlackRock’s IBIT alone continues managing more than $61 billion in assets, maintaining its position as the dominant institutional Bitcoin investment vehicle.
Industry analysts said the sharp outflows likely reflected short-term risk reduction rather than a structural change in institutional positioning. Several firms pointed to macroeconomic uncertainty, geopolitical tensions, and inflation concerns as the primary drivers behind the sudden reversal in flows.
At the same time, Bitcoin has continued showing relative resilience compared with previous risk-off periods. Market observers noted that institutional participation through ETFs remains significantly stronger than during earlier crypto market cycles dominated primarily by retail speculation.
Ethereum and Altcoin ETFs Also Face Pressure
Ethereum-linked ETFs also experienced weaker demand on May 13. Spot Ethereum ETFs recorded approximately $36.3 million in net outflows during the session, extending recent underperformance relative to Bitcoin products. BlackRock’s ETHA ETF led Ethereum-related withdrawals with roughly $21.1 million in outflows.
The divergence between Bitcoin and alternative crypto investment products has become increasingly visible throughout 2026. Analysts say institutional investors continue treating Bitcoin as the primary macro digital asset allocation while remaining more selective toward Ethereum and altcoin-related products.
Not all digital asset funds experienced negative flows during the session. Solana-linked ETFs continued attracting modest institutional demand, with U.S. Solana ETF products recording approximately $6 million in net inflows on May 13. Bitwise’s BSOL fund reportedly accounted for the majority of those allocations.
Despite the latest outflows, industry surveys continue showing strong institutional interest in crypto ETFs over the longer term. A recent survey from Nickel Digital Asset Management found that 86% of institutional investors and wealth managers expect crypto ETF inflows to increase further during 2026 as regulatory clarity improves and digital asset products become more integrated into traditional finance.
