Bitcoin spot ETFs are facing significant outflows, with the trend continuing for seven consecutive trading days.
From June 17 to June 21, American Bitcoin exchange-traded funds saw outflows of $544.1 million.
However, the series continued, as on June 24, the products witnessed an overall net outflow of $174.5 million, according to Farside Investors data.
Grayscale’s ETF, GBTC, reported the largest net outflow – $90.4 million in a single day, followed by BlackRock’s IBIT – $35.2 million.
Read more:
Over 50% of investment managers are considering cryptocurrency investments
Also, according to Farside data, spot BTC ETFs have experienced the largest outflows in a two-week period since their approval in January.
During this period, investors have withdrawn a total net of $1.3 billion from the funds, according to YahooFinance.