Bitcoin's biggest ETF selloff hits $3.45 billion as AI stocks climb

U.S. spot bitcoin ETFs recorded 11 straight sessions of net redemptions through Monday, with investors pulling roughly $3.45 billion as bitcoin slid toward $70,000. The run began May 15 and is the longest stretch of withdrawals since the funds debuted in January 2024, topping an eight-day record set in February 2025.

The latest session saw another $484 million withdrawn, helping push BTC's price down 4% during the Asian trading day. At the same time, risk appetite on Wall Street remained strong: Nvidia rose 6% and other semiconductor and AI-linked stocks drew investor interest.

Strategy (MSTR), the largest corporate holder of bitcoin, sold 32 BTC, about $2.5 million, to fund distributions on a preferred stock offering. The sale was a tiny fraction of the company's holdings and its first bitcoin sale since December 2022, after months of Executive Chairman Michael Saylor championing a buy-and-hold approach.

United States, Wall Street

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