US Bitcoin ETFs Experience Major Outflows Amid Weak Investor Sentiment
- Spot Bitcoin ETFs saw $165.8 million in outflows on Thursday, totaling $403.9 million for the week.
- Year-to-date losses for these funds have reached $2.7 billion, indicating a significant downturn.
- Trading activity decreased by 21% this week, marking the lowest levels since late December.
- BlackRock’s IBIT led losses with $368 million in outflows this week.
- Bitcoin prices are down approximately 22% year-to-date, trading around $66,000 as of Thursday.
The ongoing outflows from Bitcoin ETFs reflect declining investor confidence and unusually low price levels compared to previous cycles, with analysts noting it could be one of the worst yearly starts for Bitcoin on record.
With total outflows reaching $403.9 million this week and cumulative losses at $2.7 billion YTD, the situation underscores significant challenges facing Bitcoin and its associated funds in early trading periods.(Source)
