U.S. spot bitcoin ETFs have accumulated a net 4,500 BTC since the start of 2026. May has seen a reversal to distribution after accumulation in March and April. Swissblock data shows its Risk Index moving into high-risk territory.
U.S. spot bitcoin ETFs absorbed a net 4,500 BTC so far this year according to Swissblock. This marks a sharp slowdown from the buying that supported earlier price gains. March and April saw steady inflows that helped lift bitcoin from lows near $65,000 while May flipped to outflows with three days left in the month.
