US-based spot Bitcoin ETFs experienced over $157 million in total net outflows over the last trading week amid global trade tensions and waning cryptocurrency market momentum.
BlackRock’s IBIT, the largest BTC exchange-traded fund, recorded a daily total net outflow of $430.82 million, marking the end of a 34-day streak of positive inflows.
Other US-based Bitcoin ETFs like ARK 21Shares Bitcoin ETF, Bitwise Bitcoin ETF, Grayscale Bitcoin Mini Trust, and Fidelity Wise Origin Bitcoin Fund also saw varying levels of outflows, contributing to the negative trend in the market.
The negative performance in the Bitcoin ETF market over the past week halted a six-week streak of positive capital influx, coinciding with a slight price decrease of BTC to around $104,424.