US-based spot Bitcoin ETFs experienced over $157 million in total net outflows last week, mirroring waning momentum in the cryptocurrency market, according to latest market data. This ends a six-week streak of positive capital influx (over $9 billion inflows). Investors are approaching crypto and other risk assets with caution amid global trade tensions.
On Friday, May 30th, Bitcoin ETFs recorded a daily total net outflow of $616.22 million, according to data from SoSoValue. This followed a $358.65 million outflow on Thursday, May 29th, marking the second-straight day of outflows for US-based Bitcoin ETFs.
BlackRock's IBIT posted a daily total net outflow of $430.82 million on Friday, snapping its longest streak of inflows (34 days). ARK 21Shares Bitcoin ETF (ARKB) saw a daily cumulative outflow of $120.14 million on Friday. As of this writing, the price of BTC stands at around $104,424, reflecting a mere 0.4% increase in the past 24 hours.