Spot Bitcoin ETFs lose €2.08 billion in two weeks
US spot Bitcoin ETFs recorded more than €2.08 billion in net outflows over the past two weeks — a striking reversal after months of steady inflows.
Two weeks in the red
After a strong start to 2026, US spot Bitcoin ETFs have entered a correction phase. CoinDesk reports that more than €2.08 billion has flowed out of the funds since early May.
The largest outflow is seen at the two market leaders, while a few smaller funds still record slightly positive inflows.
What is driving the outflow?
- Rising interest rates make cash and short-term government bonds attractive again.
- Profit-taking after the strong Q1 2026 rally.
- Geopolitical uncertainty around Iran and trade tensions.
The institutional picture remains nuanced
Despite the outflow, some large asset managers keep adding Bitcoin to their model portfolios. According to recent 13F filings, pension funds and family offices actually expanded their positions slightly in Q1.
The contrast shows that the market is in a phase where traders are fleeing while long-term allocators are building positions.
What to expect?
Analysts are watching two signals:
- Stabilization of bond yields
- A return of positive daily ETF inflows
As long as both are missing, the market remains sensitive to further declines.
Amounts are converted from USD at an indicative exchange rate.