Bitcoin ETFs see major outflows amid reduced demand

U.S. spot Bitcoin ETFs experienced their largest single-day net outflows since mid-February, totaling $630.4 million on May 13. This significant drain suggests institutional investors are viewing Bitcoin's recent price recovery as an opportunity to sell rather than accumulate. Analysts point to a sharp decline in corporate treasury demand, with purchase volumes dropping 80% compared to the previous month, leaving ETFs as the primary, albeit now retreating, channel for institutional capital. BlackRock's IBIT fund saw the largest outflows, contributing substantially to the overall negative trend, while Ethereum ETFs also recorded outflows, though Solana ETFs saw modest inflows.