American spot Bitcoin— funds are under constant pressure. For five weeks in a row, investors have been pulling money out of them. During this period, issuers ETF lost more than $3,8 billion.
The largest weekly outflow occurred in the week ending January 30, when funds lost nearly $1,49 billion. This was the largest weekly outflow since the launch of exchange-traded products. The selling didn’t stop there.
According to SoSoValue, net outflows last week amounted to $315,9 million. Although investors replenished funds over several days, this was not enough to offset the overall outflow.
On February 20, the total net inflow of funds into spot bitcoin ETF reached $88,04 million. The most profitable spot bitcoin ETF BlackRock’s IBIT saw a net inflow of $64,46 million in a single day, bringing its cumulative historical net inflow to $61,303 billion, wrote analyst Wu Blockchain.
Despite the downturn, the long-term outlook remains favorable. Since the launch of spot bitcoin ETF attracted $54,01 billion in net inflows. Their total assets now stand at $85,31 billion, representing approximately 6,3% of Bitcoin’s total market value.