Bitcoin ETFs have continued to bleed heavily for the past two months, consistently recording massive daily outflows as investors continue to withdraw their investments.
Latest data from crypto analytics platform CryptoQuant shows that Bitcoin ETFs are experiencing their largest drawdown in history after 100,000 BTC have been withdrawn from the funds.
Bitcoin ETFs suffer $11 billion in losses
The data shows that the US spot Bitcoin ETFs have witnessed a sharp decline in cumulative net inflows, with a massive 100,000 BTC exiting funds amid the largest sell-off seen in history.
The massive sell-off witnessed by the Bitcoin funds has seen them suffer over $11 billion in losses as institutional investors continue to hold back their investments.
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With over $11 billion leaving the Bitcoin ETF market, this marks the largest decline the Bitcoin funds have ever experienced since their launch in January 2024.
Are Bitcoin ETFs losing momentum?
It is important to note that the sharp surge in outflows has come after Bitcoin ETFs became one of the biggest stories in the crypto market, where they massively garnered momentum as their launch was perceived as a major milestone for Bitcoin adoption.
Although the ETFs attracted billions of dollars in previous years when investors rapidly poured capital into the Bitcoin funds, momentum has slowed significantly and investors have continued to exercise caution.
Over the last two months, Bitcoin ETFs witnessed the longest daily outflow streak ever recorded as investors have continued to withdraw their funds on nearly all days of the week.
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