Bitcoin ETF demand slumps pushing risk gauge higher

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.

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Illustration of Bitcoin ETF outflows near $1B with rising yields and financial charts for a news article.
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Bitcoin ETF outflows near $1 billion amid rising yields

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Bitcoin spot ETFs saw nearly $1 billion in outflows over May 18-19 as Treasury yields rose and Federal Reserve rate-hike odds increased, ending a six-week inflow streak.

US spot Bitcoin ETFs experienced their largest weekly outflow in five months, shedding $1 billion and ending a six-week streak of inflows. The reversal comes as hotter inflation data prompted investors to reassess risk exposure.

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U.S. spot bitcoin ETFs have seen nine straight days of net outflows, the longest such streak since the funds launched in January 2024. Investors withdrew about $2.8 billion over the period, with $1.3 billion exiting this week alone.

US spot Bitcoin ETFs have recorded net inflows for a sixth consecutive week. The funds have attracted a combined 3.4 billion dollars since April 2.

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Bitcoin fell toward 79,000 dollars as rising US Treasury yields, inflation concerns and higher oil prices prompted a risk-off mood across global markets. Major altcoins declined alongside the leading cryptocurrency. The total value of the worldwide crypto market also dropped.

Bitcoin held around $68,000 on Tuesday, March 3, showing resilience after Monday's rally, as global stocks tumbled on renewed Middle East tensions. The Nasdaq and S&P 500 fell over 2%, gold dropped sharply, and the U.S. dollar strengthened amid risk-off moves.

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