US Bitcoin ETFs Experience Record Outflows Amid Weak Demand
- US-listed spot Bitcoin ETFs recorded $223 million in net outflows on Thursday, marking a nine-day streak of withdrawals.
- Total cumulative outflows reached approximately $2.84 billion, just below the previous record of $3.2 billion during an earlier selloff.
- BlackRock’s IBIT fund led the outflows with around $2.04 billion withdrawn since May 15, including a significant $527.8 million on May 27.
- Despite the trend, IBIT remains the largest US spot Bitcoin fund, holding about 792,000 BTC or roughly 62% of total ETF holdings.
- Conversely, newly launched HYPE ETFs attracted over $100 million in inflows during the same period.
The ongoing withdrawals from Bitcoin ETFs indicate declining institutional interest in this investment vehicle, while newer altcoin products like HYPE are gaining traction among investors.
As of now, Bitcoin ETFs have seen a total of $2.84 billion in outflows over nine consecutive days, highlighting a significant shift in market sentiment.(Source)
