Bitcoin has climbed back near $60,000, but spot Bitcoin ETFs recorded their largest weekly net outflows in more than a year. Institutions appear to be selling aggressively into the price levels that previously drew buying interest.
U.S.-listed spot Bitcoin ETFs saw $1.72 billion in net outflows last week. This marked the biggest single-week redemption in over a year and far exceeded the $318 million outflow recorded in early February when prices last approached $60,000. Outflows have now accelerated for four consecutive weeks. They rose from $1 billion in the week ended May 15 to $1.26 billion, then $1.42 billion, and finally $1.72 billion. The pattern stands in contrast to February. At that time, outflows slowed as prices fell toward $60,000, suggesting buyers were stepping in. Bitcoin traded near $62,000 as of the latest data.
