Bitcoin Spot ETFs Suffer Sixth Consecutive Day of Net Outflows

According to recent data from SoSoValue, Bitcoin spot exchange-traded funds (ETFs) have been experiencing a downward trend in investment. On May 22, the total net outflow for these funds reached $105 million, marking the sixth consecutive day of net withdrawals.

The Blackrock IBIT ETF led the pack with a daily net outflow of $68.89 million, followed closely by Fidelity's FBTC ETF at $36.29 million. These numbers highlight the current investor sentiment in the cryptocurrency market.

It is worth noting that despite these recent outflows, the historical cumulative net inflow for Bitcoin spot ETFs has reached a significant $57.084 billion. As of writing, the total net asset value of these funds stands at $98.866 billion, representing 6.49% of the total Bitcoin market value.