#CircleIPO

🪙Exchange-traded funds (ETFs) in Bitcoin have witnessed their largest outflows since last February, totaling $616.22 million on Friday.

🔸 This ended a streak of six consecutive weeks of inflows. Leading these outflows were the iShares Bitcoin Trust ETF (IBIT) from BlackRock and the Ark 21Shares Bitcoin ETF (ARKB), amid rising trade tensions between the United States and China.

🔸 This decline coincided with a drop in the price of Bitcoin to $103,000, after reaching an all-time high of $112,000 a week ago. Weekly total outflows also rose to $157.4 million, marking the first week of net outflows since April 11, reflecting market volatility and the impact of global economic factors.

🔸 Despite these negative outflows, ETFs ended May with inflows of $5.23 billion, compared to $2.97 billion in April, indicating continued investor interest in cryptocurrency despite recent challenges. Analysts believe that these fluctuations may be part of an asset redistribution rather than a panic among investors.