BTC spot ETFs see sustained outflows for over two weeks, Glassnode says

U.S. Bitcoin spot ETFs have experienced mostly net outflows since May 7, with the trend continuing for over two weeks and increasing institutional selling pressure, Glassnode reported via its official X account. Glassnode analyst CryptoVizArt added that total ETF trading volume has fallen from over $50 billion daily at the end of last year to under $20 billion currently. The analyst noted that this indicates interest in BTC exposure from the traditional finance market has virtually disappeared.