Bitcoin ETF Outflows Continue as Altcoins Find Selective Demand

The cryptocurrency exchange-traded fund (ETF) market experienced another week of mixed fortunes, with spot Bitcoin ETFs recording $527 million in net outflows.

This marked their eighth consecutive week of redemptions, with Blackrock's IBIT losing a staggering $772.6 million for the week.

However, not all was bleak as other bitcoin ETFs saw gains, including Fidelity's FBTC which added $100.9 million and Ark & 21Shares' ARKB which brought in $101.9 million.

Invesco's BTCO also recorded a small inflow of $5.4 million, while Grayscale's Bitcoin Mini Trust gained $13.4 million.

The week's flows showed that despite the dominance of outflows, there were still pockets of selective demand in the market.