Bitcoin ETFs shed $166M as BTC heads for worst start in years

Spot Bitcoin ETFs approach a five-week outflow streak, with $2.7 billion in net redemptions year-to-date, as BTC posts one of its weakest starts to a year.

Selling pressure in US-listed spot Bitcoin ETFs continued Thursday, with analysts noting the cryptocurrency is on track for one of its worst yearly starts.

Spot Bitcoin (BTC) ETFs saw $165.8 million in outflows Thursday, bringing weekly losses to $403.9 million, according to SoSoValue data.

The redemptions moved the funds closer to a potential five-week outflow streak, with year-to-date (YTD) losses totaling $2.7 billion.

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