U.S. spot bitcoin ETFs posted their largest weekly redemption in over a year amid bearish institutional sentiment near $60,000.
U.S.-listed spot bitcoin ETFs recorded $1.72 billion in net outflows last week, the highest weekly redemption in over a year. The sell-off contrasts sharply with February, when outflows totaled just $318 million as bitcoin neared $60,000.
Outflows have accelerated for four consecutive weeks, rising from $1 billion in mid-May to $1.26 billion, $1.42 billion, and now $1.72 billion. The trend signals a shift in institutional sentiment, with investors selling into the dip rather than buying as they did earlier this year.
Bitcoin’s price near $60,000 has failed to attract the same institutional support seen in February, highlighting a more cautious stance among large investors.