Bitcoin ETFs Shed 2.4 Billion This Week

Spot Bitcoin ETFs Experience Significant Outflows Amid Market Uncertainty

• Spot Bitcoin exchange-traded funds (ETFs) saw $759 million in outflows on Wednesday.
• The day prior, these funds experienced a record $1.1 billion in daily outflows.
• Total outflows for the week have surpassed $2.4 billion.
• Bitcoin’s price has decreased by about 17% since late January, trading below $84,000.
• A recent $1.4 billion hack of the Bybit exchange has further unsettled investors.

This week, spot Bitcoin ETFs have seen over $2.4 billion in outflows, with significant daily losses of $759 million and a record-setting $1.1 billion on consecutive days. The market is also reacting to broader economic concerns and recent security breaches in the crypto space.