Spot Bitcoin ETFs Experience Record Outflows, Analysts Suggest Market Bottom
- Spot Bitcoin ETFs have seen outflows for ten consecutive trading days, totaling over $2.97 billion since May 15.
- Daily outflows ranged from $70 million to a peak of $733 million on Wednesday.
- Total net assets in spot Bitcoin ETFs fell from $104.29 billion to $94.17 billion in two weeks.
- The current outflow streak surpassed the previous record of eight days set last year, which saw $3.2 billion withdrawn.
- In contrast, spot Ether (ETH) ETFs logged outflows for fourteen consecutive sessions, decreasing total net assets by approximately $2.6 billion.
The ongoing outflows from Bitcoin ETFs are viewed as a potential indicator of market bottoming, with analysts noting that such trends often reflect high levels of investor fear and risk aversion.
As of Friday, total net assets held in spot Bitcoin ETFs have decreased by roughly $10 billion since mid-May, indicating significant market shifts during this period. (Source)
