U.S. Bitcoin ETFs Lose $1.16 Billion Across Three Sessions

U.S. spot Bitcoin (BTC) exchange-traded funds posted $1.16 billion in net withdrawals over three trading sessions through Tuesday, extending their losing streak even as the latest daily outflow slowed. The funds lost about $116 million Tuesday, Nov. 3, after about $399 million Monday and $643 million Friday, Oct. 30. Tuesday marked a third consecutive trading day of withdrawals. André Dragosch, Bitwise’s head of research, viewed the withdrawals as a short-term response to weaker market sentiment. “I do think it’s related to a short-term risk-off environment rather than a structural change in institutional sentiment,” Dragosch said.

Source: TokenPost