Bitcoin ETF Outflows Just Hit a 3-Month High of $635 Million: What’s Driving the Exit?

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Sam Daodu

Thu, May 14, 2026 astatine 10:43 AM CDT 6 min read

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U.S. spot Bitcoin ETFs mislaid $635 cardinal connected May 13—the largest single-day outflow since January 29—with BlackRock’s IBIT starring astatine $284.69 cardinal and the five-day cumulative harm reaching $1.26 cardinal crossed each 11 funds.
There were 3 cardinal reasons for the outflows: April’s CPI came successful astatine 3.8% connected Tuesday, PPI surged to 6% connected Wednesday (the highest since December 2022), and Kevin Warsh’s confirmation arsenic Fed Chair successful a 54-45 ballot locked successful a hawkish speechmaking that pushed complaint hike likelihood to astir 39%.
Today’s CLARITY Act markup astatine 10:30 AM ET is the adjacent binary event, with Polymarket pricing 73% likelihood of transition and Citi Group tying a $143,000 Bitcoin people straight to the measure clearing Congress.
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A fewer weeks ago, Bitcoin (CRYPTO: BTC) ETFs were the bull case. The funds pulled successful $3.29 cardinal combined successful March and April, marking the archetypal sustained inflow streak of 2026. However, the streak snapped yesterday.

U.S. spot Bitcoin ETFs bled $635 million, signaling their largest outflow since precocious January. The reversal wasn't a one-off arsenic determination were 3 cardinal factors that triggered the exodus. Here's our reappraisal of what's really driving the outflows and the catalyst that could reverse them.

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BlackRock Led the $635 Million Bitcoin ETF Exit

A manus places a woody artifact with a achromatic dollar motion ($) connected a acheronian grey fiscal candlestick illustration showing reddish and greenish bars. Nearby are different woody blocks spelling 'ETF'. US dollar bills are partially disposable successful the apical close and bottommost foreground, with blurred fiscal documents successful the background.

BlackRock's IBIT led the exit. The world's largest Bitcoin ETF accounted for astir fractional of the $635 cardinal that walked retired of the spot Bitcoin ETF funds connected May 13. Per SoSoValue data, that's the worst single-day speechmaking successful implicit 3 months.

The selling didn't halt determination either. Cumulative nett inflows since the ETFs launched successful January 2024 fell from $59.76 cardinal past week to $58.5 cardinal now—a $1.26 cardinal driblet successful 5 trading sessions.

The past clip outflows looked similar this was January 29, erstwhile the ETFs recorded $1.1 cardinal successful outflows 1 league during Bitcoin's wintertime correction. Between past and past week, outflow days averaged $340 million, and yesterday astir doubled that.

Inflation Data Killed the June Rate-Cut Trade

A composite representation showing an American emblem successful the blurred background, with 2 acheronian lipid barrels disposable connected the left. Overlaid successful the foreground are glowing yellowish enactment graphs and vertical bluish barroom charts, displaying fiscal information with numbers similar '76.633' and '▲97.134'.

Markets came into this week expecting complaint cuts, but by Wednesday morning, they were pricing complaint hikes. Tuesday's April CPI came successful astatine 3.8% year-over-year—the highest since May 2023. Then Wednesday morning, April’s PPI deed 6%, which was the biggest wholesale-price summation since December 2022.

The Iran warfare is the motor for the ostentation spike, arsenic gasoline unsocial surged 15.6% successful April. Both numbers came successful good supra forecasts, and with the Strait of Hormuz inactive blocked, the ostentation unit isn't easing soon.

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