The spot Bitcoin exchange-traded funds (ETFs) experienced a daily record high with over $1.1 billion in combined outflows as the price of Bitcoin plummeted during a wider market rout. This follows outflows on Monday of $539 million, which is the sixth-highest total in the funds' history. Although the outflow numbers seem significant, they only represent around 2.3% of the assets. Various factors may have contributed to the outflows, including the recent Bybit hack and a broader selloff in risk assets. Despite the recent turbulence, flows for US-listed crypto ETFs remain positive this year at $3.1 billion. The price of Bitcoin fell below $84,000 for the first time since November, leading to a 12% weekly drop. Ethereum and other high-cap coins also experienced significant declines. ETFs based on the spot price of Ethereum have lost around $130 million in the past week. Despite this, asset managers continue to file applications with the US Securities and Exchange Commission for new funds based on various cryptocurrencies. Some experts remain cautious about the crypto markets, anticipating further declines in Bitcoin's price.



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