Bitcoin ETF outflows reached $1.26 billion over six sessions, but Santiment says the streak signals a buying opportunity.
Summary
- US spot Bitcoin (BTC) ETFs recorded net outflows in each of the six trading sessions from May 15 through May 22, totalling $1.26 billion across 11 funds.
- Santiment says ETF flows reflect retail investor sentiment rather than institutional positioning, calling the outflow streak a contrarian accumulation signal.
- Bitcoin was trading at $75,410 when Santiment published its report, down from a May high of $79,052 reached on May 16.
The 11 US-listed spot Bitcoin ETFs have recorded net outflows in each of six sessions from May 15 through May 22, totalling $1.26 billion according to Farside data.
“Sustained ETF outflows have historically correlated with conditions favorable for patient accumulation rather than panic,” Santiment said in a published report. The analytics firm argued that ETFs disproportionately reflect retail conviction rather than smart money positioning, making large outflows a counter-signal.
Why Santiment reads outflows as a buying signal not a warning
Santiment’s analysis rests on a historical pattern: Bitcoin’s strongest rallies have followed periods of heavy ETF withdrawals. The firm said retail investors grew less patient after Bitcoin failed to hold $80,000, with the current streak resembling a healthy market reset.
ETF analyst James Seyffart noted that Bitcoin ETFs have clawed back most of the $9 billion in outflows seen between October 2025 and February 2026. Crypto.news has reported on the first May outflow event, which reversed the early-month inflow trend.
What the Farside data shows across the 11 funds
Fidelity’s Wise Origin Bitcoin Fund led individual redemptions within the streak. BlackRock’s IBIT saw outflows on multiple sessions, and Morgan Stanley’s MSBT attracted positive flows on some days during the period.
Crypto.news has tracked Bitcoin ETFs ending Q1 2026 with net outflows of approximately $500 million, showing the current six-session streak continues a broader 2026 pattern of intermittent redemptions.
Santiment’s contrarian framing does not eliminate further downside risk. If Bitcoin breaks below $74,000, the outflow streak would need reassessment as a buy signal.
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