US spot Bitcoin exchange-traded funds (ETFs) experienced net outflows of $648.64 million on May 18, 2026, marking one of the largest single-day redemptions of the year.
The withdrawal came as Bitcoin's price fell roughly $6,000 from its mid-May peaks, according to data from Detik Finance.
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The broader cryptocurrency market lost over $126 billion in total capitalization during the same period.
Legislative Milestone Triggers Sell-Off
The market movement followed a legislative milestone in Washington, where the CLARITY Act advanced to a full Senate vote.
Market participants reacted swiftly once the news became public, triggering a wave of institutional selling.
One widely-followed account on X described the event as a "textbook SELL THE NEWS bloodbath."
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Bitcoin's valuation dipped 0.5% overnight, falling from approximately $77,800 to just above $77,000.
Daily Bitcoin trading volume also declined sharply to $40.1 billion, down from $58 billion the previous day.
BlackRock's IBIT Leads Redemptions
Data from CoinGlass showed that BlackRock's iShares Bitcoin Trust (IBIT) accounted for $448 million of the total outflows on May 18.
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Fidelity's FBTC and ARK's ARKB also posted notable net negative figures.
These outflows followed approximately $1 billion in net redemptions during the preceding week of May 11–15.
The downturn occurred shortly after Bitcoin cleared $80,000 on May 4 and tested its 200-day moving average near $82,000.
Despite the single-day liquidations, year-to-date ETF inflows across the largest cryptocurrency funds remain above $65 billion.
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The $648.64 million single-day outflow represents less than 1% of that cumulative institutional asset base.
