Bitcoin's biggest ETF selloff yet hits $3.4 billion as AI stocks keep climbing
U.S. spot bitcoin ETFs are experiencing their biggest withdrawal streak on record, with about $3.45 billion pulled over 11 straight trading sessions as bitcoin fell toward $70,000. The latest session alone saw $484 million in outflows, and bitcoin dropped 4% during Asian trading. The streak, which began May 15, is longer than the previous eight-day record from February 2025. Despite the crypto selloff, broader risk appetite in equities remains firm, with Nvidia and other AI/semiconductor stocks gaining attention. Strategy, the largest corporate bitcoin holder, also disclosed a sale of 32 BTC, its first bitcoin sale since December 2022, to help fund preferred-share distributions. Signs of weakening institutional demand are growing, with reports that ETF and corporate treasury accumulation has slowed, suggesting a key source of bitcoin demand may be fading.
