The US Bitcoin spot ETF has seen a cumulative net outflow of $1.298 billion over the past two trading weeks, with BlackRock being the only fund with positive performance.

According to data from Farside Investors, the total outflow of Bitcoin ETFs reached $1.298 billion in the past two trading weeks, of which Grayscale had the largest outflow of $517.3 million. It is worth noting that Odaily's Bitcoin ETF is the only fund with positive performance, attracting $43.1 million worth of inflows in the past two weeks. The recent outflow of funds from spot Bitcoin ETFs is the most serious since April. From April 24 to early May, the total net outflow of BTC investment tools exceeded $1.2 billion. Jonathan de Wet, chief investment officer at digital asset trading firm ZeroCap, said that although the entire cryptocurrency market "continues to fall", he expects the price of Bitcoin to fall to "key support levels" around $57,000 in the coming weeks as Mt. Gox creditors repay their debts. "Considering the rest of the market, BTC and ETH have actually performed surprisingly well, with key support levels at 63,000 and 3,400 respectively, and are still clearly in the price range of the past few months." (Cointelegraph)