Bitcoin spot ETFs have seen strong outflows, a trend that has continued for a week. As of the 174th day of the 24th month, the net outflow of these products amounted to $1.74 billion.
Data from Farside Investors shows that spot BTC ETFs have experienced the largest outflow of funds within two weeks since their approval in the United States. During this period, investors have withdrawn a total of $110 million from these funds.
Overall, digital asset investment products had a total outflow of $58.4 billion for the second consecutive week.
Reports suggest that investor pessimism about possible interest rate cuts by the Federal Reserve is one of the reasons for this situation.
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Over 50% of fund managers are considering cryptocurrency investments.
Last week, global exchange-traded product (ETP) trading volume also reached its lowest level since the launch of US ETFs in September, with a total trading volume of only $1 billion this week.
The United States had the highest outflow of funds, amounting to $47.5 billion, while Canada also experienced a significant outflow of $10.9 billion. Germany and Hong Kong reported outflows of $240,000 and $190,000, respectively. However, Switzerland and Brazil saw inflows of $390,000 and $485,000, respectively.
The largest outflow was in Bitcoin, totaling $63 billion, but despite the negative sentiment, short positions did not increase.
Ethereum also faced a total outflow of $580,000.
