U.S. spot Bitcoin ETFs recorded $630.4M in net outflows on May 13, the worst single day since January 29's $817.8M exit. BlackRock's IBIT led with $284.7M in redemptions. The outflows snapped a five-week inflow streak that had pulled in $3.8B, driven by back-to-back hot CPI (3.8%) and PPI (6%) prints that shifted Fed rate expectations.
U.S. spot Bitcoin ETFs recorded $630.4M in net outflows on May 13, the worst single day since January 29's $817.8M exit. BlackRock's IBIT led with $284.7M in redemptions. The outflows snapped a five-week inflow streak that had pulled in $3.8B, driven by back-to-back hot CPI (3.8%) and PPI (6%) prints that shifted Fed rate expectations.
U.S. spot Bitcoin ETFs suffered $630.4 million in net outflows on May 13, the largest single-day exit since January 29, when funds lost $817.8 million.
BlackRock's IBIT bore the brunt at $284.7 million, followed by ARK's ARKB ($177.1M), Fidelity's FBTC ($133.2M), and Bitwise's BITB ($35.4M). Every major fund saw redemptions.
The sell-off was triggered by back-to-back inflation shocks: April CPI came in at 3.8% YoY (highest since September 2023) and PPI hit 6% (highest since February 2023), strengthening concerns the Fed may consider rate hikes this year.
The outflows reverse a five-week inflow streak that had pulled in roughly $3.8B through the week ending May 6. Smaller outflows had been building — $268.5M on May 7 and $233.2M on May 12 — before Wednesday's acceleration.
Despite the headline number, analysts characterized the move as profit-taking rather than a structural shift. Peter Chung, head of research at Presto Labs, called it 'healthy consolidation,' noting that higher prices incentivize some institutional cohorts to lock in profits.
Context: The January 29 $817.8M outflow was followed by renewed inflows, and the current setup coincides with Strategy's STRC ex-dividend date on Friday — a mechanism that has fueled mid-month BTC buying rallies for three consecutive months (4,467 BTC in January → 46,872 BTC in April).
A $630M ETF outflow looks alarming, but it's profit-taking off a $3.8B five-week streak — not a structural exit. Watch Friday's STRC ex-dividend for the next buying signal.
What most people miss: The outflows weren't driven by crypto-specific sentiment — they were a macro risk-off move triggered by the hottest inflation prints in years. The institutional thesis hasn't changed. IBIT still holds ~$55B+ in AUM, and the $630M represents roughly 1% of that. Meanwhile, Strategy's STRC mechanism — which has driven escalating mid-month Bitcoin purchases (4,467 BTC in Jan → 46,872 BTC in Apr) — hits its ex-dividend date Friday. The last three STRC cycles each catalyzed BTC rallies. If the pattern holds for a fourth month, the institutional selling wave could be met with structured buying within 48 hours.
Capital Group ($3.3T AUM) disclosed a 10.63% stake (136M shares, ~$203M) in Metaplanet, making it the largest shareholder of Japan's premier Bitcoin treasury company. The firm already holds a position in Strategy, now extending its Bitcoin treasury thesis across two jurisdictions.
T. Rowe Price, the $1.89 trillion asset manager, launched the T. Rowe Price Active Crypto ETF (TKNZ) on NYSE Arca — the first actively managed multi-token spot crypto exchange-traded product in the marketplace. The fund holds a diversified portfolio across Bitcoin, Ethereum, BNB, XRP, Solana, and Hyperliquid, with active allocation adjustments led by Blue Macellari, Head of Digital Assets since 2022.
The SEC approved an immediately effective rule change quadrupling IBIT options position limits from 250,000 to 1,000,000 contracts, enabling up to $5B in notional options exposure per participant. The approval landed the same day BlackRock reported record $15.3T AUM and $191.7B Q2 inflows, even as IBIT shed $3.3B during the quarter.