US spot Bitcoin ETFs shed $696M as selling pressure intensifies

US spot Bitcoin ETFs recorded $696 million in net outflows on Thursday, extending the streak of heavy redemptions to a second day. Fidelity and BlackRock accounted for the largest withdrawals, according to SoSoValue data. The latest moves cap a difficult week for the category, with about $1.35 billion pulled from spot bitcoin funds as Bitcoin slipped below $60,000. Despite the near-term pressure, longer-term flows remain positive. Since their launch, spot Bitcoin ETFs have attracted roughly $52 billion and now hold about $72.6 billion in assets, around 6% of Bitcoin's market capitalization.