US Spot Bitcoin ETFs Record Consecutive Days of Net Outflows

US spot Bitcoin exchange-traded funds (ETFs) have recorded consecutive days of net outflows, raising concerns among investors about the future direction of the crypto market.

The latest data from Trader T shows that on May 8, these ETFs saw a total net outflow of $145.64 million. This follows similar trends observed on the previous day and could be indicative of changing investor attitudes.

The largest contributor to this trend was Fidelity's FBTC, which saw a significant $97.60 million in net withdrawals, followed by BlackRock's IBIT with $27.22 million. Meanwhile, Ark Invest's ARKB also reported substantial outflows, amounting to $26.56 million.

Notably, Morgan Stanley's MSBT was the only fund among the tracked group to report positive flows, adding $5.74 million.