Bitcoin ETFs extend losses with $545M outflows as BTC nears $70K
Bitcoin ETFs saw $545 million in daily outflows as BTC neared $70,000, though analysts said most investors were holding positions despite market weakness.
Bitcoin exchange-traded funds (ETFs) extended losses on Wednesday amid BTC price approaching the $70,000 mark, adding to mounting pressure across digital asset markets.
According to data from SoSoValue, spot Bitcoin (BTC) ETFs recorded $545 million in outflows on the day, pushing weekly flows into the negative with $255 million in net outflows.
Year-to-date, the funds have attracted $3.5 billion in inflows but seen $5.4 billion in redemptions, leaving them net negative by $1.8 billion. Total assets under management stand at $93.5 billion.