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Bitcoin ETFs Record Largest Single-Day Redemption Since January

Guavy AI Editorial Team
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BTC
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US spot Bitcoin ETFs saw $648.6 million in net outflows on May 18, their largest single-day redemption since January 29.

The funds reported a negative trend from the prior week, which saw $1 billion leave the funds and ended a six-week streak of positive flows.

Seven funds experienced outflows, with BlackRock's IBIT leading at $448.3 million, followed by Ark & 21Shares' ARKB at $109.6 million, and Fidelity's FBTC at $63.4 million.

Bitcoin (BTC) dropped below $77,000 over the weekend due to geopolitical tensions and rising oil prices that heightened concerns about persistent inflation.

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