Outflows from Bitcoin ETFs due to the Trump-Musk dispute and the index's shift to 'fear'

Bitcoin exchange-traded funds (ETFs) in the United States have seen a significant decline, amid a deterioration in overall sentiment due to the escalating dispute between U.S. President Donald Trump and billionaire Elon Musk.

After a brief recovery on June 3 and 4, spot Bitcoin funds recorded new outflows on Thursday, totaling $278 million, according to SoSoValue data.