Bitcoin ETFs shed $434M as BTC briefly touches $60K, assets near $80B

Net weekly outflows from Bitcoin ETFs reached $690 million as BTC briefly touched $60,000, reigniting analyst criticism over “paper Bitcoin” and scarcity.

Bitcoin exchange-traded funds (ETFs) continued to see outflows on Thursday, shedding almost $1 billion over the past two days as debate grows over their potential impact on the market.

Data from SoSoValue shows that spot Bitcoin (BTC) ETFs recorded $434 million in net outflows on Thursday, following $545 million in redemptions the previous day.

Monday’s $561 million in inflows was not enough to offset losses, leaving net weekly outflows at about $690 million as of Friday morning.

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