The crypto market has seen significant withdrawals from spot bitcoin exchange-traded funds (ETFs) since May 15, with total net redemptions exceeding $2.97 billion.
According to SoSoValue data, daily outflows ranged from $70 million to $733 million during the period, with the largest single-day withdrawal occurring on Wednesday at $733.43 million.
The current streak of 10 consecutive trading days has broken the previous record of 8 consecutive outflow sessions, which was recorded early last year and involved $3.2 billion in withdrawals.