US spot Bitcoin ETFs hemorrhaged $334 million on May 26, according to data from SoSoValue. That figure translates to roughly 4,374 to 4,404 BTC walking out the door in a single trading session.

Ethereum spot ETFs weren’t spared either, posting a $35 million net outflow on the same day.

A brutal stretch gets worse

Earlier in May, Bitcoin ETFs saw even larger single-day redemptions: $649 million on May 18 and $635 million on May 13.

Cumulative weekly outflows during mid-to-late May surpassed $1.2 billion. That marks the heaviest weekly drain from US spot Bitcoin ETFs since late January, when a similar wave of redemptions rattled the market.

Ethereum spot ETFs logged at least 10 consecutive days of outflows through May 22. The $35 million on May 26 suggests that streak either continued or resumed after a brief pause.

For context, US spot Bitcoin ETFs have attracted over $57 billion in cumulative net inflows since their January 2024 launch. Ethereum products have gathered more than $11 billion in net assets over a similar timeframe.

Where the money is going

During the same timeframe that Bitcoin and Ethereum ETFs were bleeding capital, products linked to Solana and XRP saw modest inflows.

What this means for investors

For Bitcoin specifically, the outflow of roughly 4,400 BTC in one day represents real selling pressure. ETF redemptions require funds to liquidate holdings, which means this isn’t just paper shuffling.

Ethereum ETFs have historically experienced more volatile flow patterns and longer consecutive outflow periods. The 10-plus day outflow streak through late May suggests that institutional appetite for ETH exposure has cooled more dramatically than Bitcoin’s.

Platforms like SoSoValue will continue to serve as the scoreboard for this particular game. Daily and weekly flow data has become essential reading for anyone trying to gauge whether institutional money is arriving or departing.