Bitcoin ETFs Experience Outflows for the Second Consecutive Day

Bitcoin exchange-traded funds (ETFs) in the United States experienced net outflows of $30.59 million, marking the second consecutive day of negative investment trends.

According to data from SoSoValue, the ARKB fund managed by ARK 21Shares reported substantial outflows of approximately $44.47 million, underscoring the difficulties these funds face amid ongoing market volatility.

In a positive development, BlackRock's IBIT fund offset some of these outflows by securing inflows of $13.88 million on the same day, achieving its second consecutive day of positive inflows.

It is also important to note that the flow data for Bitwise's BITB fund has not yet been updated, while the other nine Bitcoin ETFs maintained a neutral position.

Regarding Bitcoin's market performance, its value declined by 1.77% over the past 24 hours, trading around $60,997.49. Despite this decrease, Bitcoin continues to hold its position as the leading cryptocurrency by market capitalization, as reported by CoinMarketCap.

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