Bitcoin, Ether Spot ETFs See Heavy Redemptions on May 26

US spot Bitcoin ETFs posted net outflows of $333.6 million on May 26, equivalent to about 4,320 BTC leaving the products in a single session, according to SoSoValue. Spot Ethereum ETFs also recorded net redemptions of $35 million the same day. May has been marked by repeated withdrawal spikes for Bitcoin ETFs. Net outflows reached $635 million on May 13 and $649 million on May 18, followed by $105 million on May 22, before the $333.6 million pullback on May 26. Flows have largely been shaped by the largest issuers, including BlackRock, Fidelity, and Grayscale. When redemptions hit these funds at the same time, the impact often extends beyond ETFs and into broader crypto market liquidity. SoSoValue's daily flow data has become a widely used reference for tracking US spot ETF activity, with fund-level detail that shows whether redemptions are concentrated in specific products or spread across the category. For Bitcoin, successive large outflow days can translate into tangible selling pressure. ETF redemptions typically require issuers to sell underlying holdings, meaning the $333.6 million withdrawal implies real BTC supply entering the market—about 4,320 coins needing buyers. Combined with the $649 million and $635 million outflow sessions earlier in May, the amount of supply absorbed by the market becomes significant. Ethereum's $35 million outflow is smaller, but the signal is similar. ETH spot ETFs have yet to replicate the early inflow momentum seen in Bitcoin products, and continued redemptions further widen that divergence. Issuer competition remains a key variable. With BlackRock, Fidelity, and Grayscale vying for a limited pool of institutional allocations, a negative flow backdrop shifts the focus from attracting fresh capital to defending existing assets under management.