Bitcoin spot exchange-traded funds (ETFs) recorded a significant outflow on May 8, with Fidelity's FBTC leading the decline at $97.6 million. This move comes amidst evolving market conditions and ongoing investor activity.
The data, provided by SoSoValue, shows that Morgan Stanley's MSBT recorded the largest inflow at $5.74 million, while Fidelity's FBTC experienced a net outflow of $97.6 million. The total net asset value of Bitcoin spot ETFs remains at $106.61 billion.
The ETF net asset ratio to Bitcoin's market cap stands at 6.67%, with cumulative net inflows reaching $59.34 billion historically. This development is part of the ongoing evolution in the cryptocurrency market, which continues to attract investor attention.