Bitcoin ETFs bleed $635M as BTC slips under $80K

Bitcoin ETFs saw $635 million in outflows on Wednesday, the largest since late January, as BlackRock’s IBIT led redemptions amid profit-taking and BTC swings near $80,000.

US spot Bitcoin exchange-traded funds (ETFs) posted their largest daily outflow since January as Bitcoin struggled to hold the $80,000 level after a sharp rebound from April lows.

Bitcoin (BTC) funds recorded $635.2 million in outflows on Wednesday, extending $233.3 million in outflows from the previous trading session, according to SoSoValue data.

So far, weekly outflows stand at $841.2 million, putting ETFs on track for their first week of net losses after six consecutive weeks of gains totaling around $3.4 billion.

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