Bitcoin ETFs shed a record $6.4B in 30 days amid crypto winter chill

US-listed spot Bitcoin exchange-traded funds (ETFs) experienced a record net outflow of $6.4 billion over a 30-day period ending in early March 2024. This significant outflow marks the largest since the launch of these ETFs in January 2024. The trend coincides with a 17% decline in the price of Bitcoin during the same month. The outflows suggest a cooling investor sentiment towards Bitcoin, potentially influenced by broader market conditions or a shift in speculative interest. This period of significant outflows follows a strong initial uptake for Bitcoin ETFs, which were approved by the U.S. Securities and Exchange Commission (SEC) in January 2024, attracting billions in new assets within their first few weeks of trading. The recent outflows indicate a reversal of this trend, with investors withdrawing capital from these products.