US-based spot Bitcoin ETFs have witnessed significant withdrawals over the past week due to the escalating trade tensions between the United States and China.
The spot Bitcoin ETFs experienced a significant $713 million in total net outflow over the past week, indicating a declining appetite for crypto-based financial products among US investors.
The negative streak of seven consecutive days of outflows brings the total net outflow for US Bitcoin ETFs to $713 million.
The uncertain market conditions, influenced by the US-China trade war, have also impacted the spot Ether ETFs with four consecutive days of net outflows.