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- US-based Bitcoin ETFs recorded $635 million in total net outflows on May 13, led by BlackRock’s IBIT.
- Ethereum spot ETFs also saw net outflows of $36.30 million, with BlackRock’s ETHA recording its largest single-day loss.
US spot crypto ETFs had a tough session on May 13. Bitcoin spot funds recorded $635 million in total net outflows, while Ethereum ETFs also ended the day in negative territory. SoSoValue
IBIT is leading a broad decline in Bitcoin ETFs
BlackRock’s IBIT recorded the largest single-day net outflow among spot Bitcoin ETFs, with $285 million leaving the fund, according to SoSoValue. This is important because IBIT has been one of the strongest vehicles in this category since its launch. It has significant liquidity, strong institutional recognition, and has long served as the default entry point for large investors looking for spot currencies. Bitcoin Exposure through structured casing.
One day’s outflow does not automatically mean that demand has stopped. ETF flows are noisy. Large offices restore balance. Funds take profits. Fundamental deals fall apart. Some investors reduce risk ahead of macro data releases, price decisions, or volatile market windows. Sometimes the movement is more about positioning than condemnation.
However, the total outflow of $635 million is large enough to matter. It shows that, at least on that day, the fixed supply from ETF channels weakened sharply. For Bitcoin, this channel has become part of the daily plumbing of the market.
When spot ETFs absorb capital, issuers typically need to source Bitcoin or maintain exposure through creation mechanisms. When redemptions dominate, this support fades, and the market has to rely more on domestic exchange demand, corporate buyers, and broader risk appetite.
IBIT outflow is particularly important because the BlackRock fund is often treated as a barometer of institutional appetite. If small funds bleed while IBIT absorbs inflows, the market could still read this as a healthy consolidation. When IBIT itself drives outflows, traders tend to pay closer attention.
Ethereum funds are also seeing redemptions
The pressure was not limited to Bitcoin. US Ethereum ETFs recorded total net outflows of $36.30 million. BlackRock’s ETHA saw the largest single-day outflow in the group, at $21.10 million.
the Ethereum The number is much smaller than that of Bitcoin, but the trend is still relevant. ETH ETFs are newer and less deeply embedded in institutional portfolios and still struggle to have a clearer narrative. Bitcoin sells itself as a digital scarcity and a total hedge.
Ethereum is more complex. Investors have to weigh smart contract activity, the economics of staking, the growth of token assets, the use of Layer 2, and the broader question of whether ETH should be treated as a commodity-like reserve asset, technology exposure, or something in between.
This makes Ethereum ETF flows more sensitive to sentiment. A modest outflow could carry more weight if investors are still deciding how much exposure to Ethereum is in a traditional allocation. The lack of yield in many ETF structures also remains part of the debate, because holders of spot ETH through funds may not have the same economic status as direct on-chain participants.
