Bitcoin ETFs Experience Record $648.6 Million Outflow Amid Market Uncertainty
U.S. spot Bitcoin ETFs experienced a significant net outflow of $648.6 million on May 18, marking the largest single-day redemption since January 29. According to NS3.AI, this withdrawal followed a $1 billion outflow in the previous week, ending a six-week period of positive inflows. BlackRock's IBIT led the outflows with $448.3 million, while ARKB and Fidelity's FBTC also saw substantial redemptions. Over the weekend, Bitcoin's price dropped below $77,000, with analysts attributing the decline to geopolitical tensions, rising oil prices, and broader macroeconomic uncertainties.
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