U.S.-based spot bitcoin exchange-traded funds (ETFs) have recently performed poorly, attracting significant concern from investors and financial analysts.
On Thursday, these ETFs experienced an unprecedented $211.15 million in net outflows, reflecting a continued decline in the cryptocurrency market.
Such a massive outflow signifies waning investor confidence in these financial instruments during turbulent market conditions.
The ongoing market downturn is a contributing factor to this record-setting withdrawal figure.
