Investors pulled money from US spot-Bitcoin exchange-traded funds for a ninth straight session, the longest run of withdrawals since the products debuted, underscoring a cooling in demand for the largest cryptocurrency even as broader risk assets rally.

The US-listed funds recorded about $2.8 billion of net outflows from May 15 through May 28, according to data compiled by Bloomberg. The streak of nine trading days marks the longest stretch of redemptions since the ETFs launched in January 2024, when they were hailed as one of Wall Street’s most successful fund debuts.