U.S. spot bitcoin ETFs have accumulated a net 4,500 BTC since the start of 2026, with May reversing the buying pattern that built through March and April, per Swissblock data. U.S. spot bitcoin ETFs have absorbed only about 4,500 BTC so far this year, a sharp slowdown from the buying that fueled the 2025 rally and recent price gains. Swissblock says ETF flows have shifted from accumulation to distribution in May, pushing its Risk Index into high-risk territory as spot ETF demand fails to absorb…
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