U.S. spot Bitcoin exchange-traded funds witnessed a combined $37.3 million in net outflows last week for the third consecutive week.
Adding last week’s flows, the spot Bitcoin ETFs net weekly outflow streak has now reached a record $1.16 billion. This is the largest weekly outflow streak since a four-week, $1.05 billion run between April 8 and May 6, according to The Block’s data dashboard. U.S.-based products led the net inflows with $43 million, while Germany, Hong Kong, Canada and Switzerland-based funds saw outflows totaling $79 million.
Trading volumes rose by 43% week-on-week to $6.2 billion globally, according to CoinShares, but remain significantly below the $14.2 billion weekly average this year.The U.S. Securities and Exchange Commission returned S-1 forms to their prospective Ethereum ETF issuers last week in the latest round of back and forth before they go effective.
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