May 29: ETF Outflows Hit a Record Streak
Brief Summary
Bitcoin is trading around $73K this morning after yesterday’s geopolitical and ETF-driven selloff.
Ethereum is hovering near $2,000 after recently breaking below that level for the first time since late March.
U.S. spot Bitcoin ETFs have now posted nine straight days of outflows, the longest withdrawal streak since launching in January 2024.
Roughly $2.8 billion has left spot Bitcoin ETFs during the nine-session streak, including about $1.3 billion this week.
A large Bitcoin and Ethereum options expiry today is keeping short-term volatility risk elevated.
Paxos Securities…
The skinny
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