Bitcoin ETF Outflows Snap Seven-Day Winning Streak

A seven-day winning streak for Bitcoin Exchange-Traded Funds (ETFs) came to an end last week, as investors redeemed over $475 million from the products on Thursday and Friday.

The outflows were largely driven by BlackRock's iShares Bitcoin Trust, which handled most of the trading action. Despite this, new investment poured in, with funds managed by Fidelity, Morgan Stanley, and Grayscale taking in nearly $1 billion over the same period.

The influx of fresh capital helped put upward pressure on Bitcoin's price, but it eventually dipped after the outflows. As of now, Bitcoin's price remains relatively stable at around $64,544.