Spot Bitcoin exchange-traded funds (ETFs) recorded net outflows for a tenth straight trading day, setting a new record for the longest withdrawal period since their launch. The outflows, which totaled $2.8 billion over the first nine days alone according to data from Farside Investors, extended into a tenth day as institutional demand for Bitcoin exposure weakened. [1] The streak surpassed the previous record of nine consecutive days of outflows set in January 2024, according to the same data provider. [1]
Context of the Outflow Streak
The current outflow streak has coincided with a decline in Bitcoin’s price from approximately $72,000 to around $65,000, representing a drop of nearly 10% over the two-week period. Market participants cited profit-taking, reduced risk appetite amid macroeconomic uncertainty, and waning momentum following the initial surge of inflows after the launch of spot ETFs in January 2024, according to reports. [2] The prior record was a nine-day outflow streak in January 2024, which occurred shortly after the first spot Bitcoin ETFs began trading. [1]
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