Spot bitcoin exchange-traded funds experienced a combined net outflow of approximately $1.26 billion during the week of May 18-22, while spot ethereum ETFs saw withdrawals of roughly $215.99 million over the same period, signaling renewed investor caution in institutional crypto markets.
The outflows intensified on the most recent trading day, with spot bitcoin ETFs recording a net outflow of $333.6 million and spot ethereum ETFs experiencing withdrawals of $35.1 million. The consecutive days of negative flows suggest a shift in institutional positioning as market participants reassess exposure to the two largest cryptocurrencies.
The sustained outflow pattern reflects broader uncertainty in crypto markets, with institutional investors—traditionally the primary drivers of ETF flows—reducing positions amid macroeconomic headwinds and volatility. These movements are closely watched as indicators of institutional sentiment, as ETF inflows and outflows often precede significant price movements in the underlying assets.