US spot Bitcoin ETFs shed $290 million as spot Ether ETFs post a fifth straight day of outflows
All 12 US spot Bitcoin ETFs reported net outflows on May 15, with total redemptions reaching $290 million, according to SoSoValue data. The absence of any inflow was notable amid this year's uneven institutional demand. Spot Ethereum ETFs also stayed under pressure, posting $65.65 million in net outflows and extending their withdrawal streak to five consecutive sessions, taking total losses for the run into the hundreds of millions.
The broad selling contrasts with strength elsewhere in crypto. SUI jumped 18% to $1.24 on institutional staking momentum and a major fintech integration, while TON, SIREN, and VVV delivered double-digit gains over the past week. The split points to rotation rather than a wholesale exit from digital assets, with flows shifting away from passive, broad-based bitcoin and ether exposure toward higher-beta tokens and targeted ecosystem themes.
Regulatory uncertainty is also weighing on sentiment. A major US crypto bill has faced renewed pushback from banking interests ahead of a Senate vote, reviving concerns of a policy stall. With banks attempting to block the legislation, institutions may be staying cautious, as ETF flows have historically been sensitive to regulatory headlines.
Even as spot crypto ETFs lose momentum, institutional activity is increasingly showing up in tokenized real-world assets (RWA). Over the past week, the on-chain RWA market exceeded $20 billion, Bullish announced a $4.2 billion acquisition, and Ondo completed its first live settlement with JPMorgan. The contrast suggests large investors are prioritizing yield-bearing, regulated structures closer to traditional finance over pure spot beta.
The current drawdowns in bitcoin and ether ETFs may reflect tactical repositioning toward areas offering clearer regulation, deeper liquidity, and more predictable cash flows. Whether the outflow streak proves temporary remains unclear. Upcoming US inflation data and any progress on the Senate crypto bill could quickly shift sentiment. For now, the latest session stands out: every US spot Bitcoin ETF finished the day as a net outflow.
