Bitcoin ETFs Lose $277M
US spot Bitcoin ETFs recorded major outflows for the first time in May after five consecutive days of inflows. According to Cointelegraph, investors withdrew around $277 million as Bitcoin briefly dropped below $80,000.
Fidelity and BlackRock funds led the outflows as traders locked in profits following Bitcoin’s recent rally. Analysts say increased market volatility also contributed to cautious investor sentiment.
Despite the correction, institutional interest in Bitcoin remains strong. For exchange users, the situation is increasing activity across BTC, ETH, and USDT trading pairs during volatile trading sessions.
Users can exchange cryptocurrencies quickly through xbit.money.