Bitcoin ETFs have seen significant outflows, with a total of $106 million withdrawn on Friday. This marks the sixth consecutive day of withdrawals, totaling $545 million this week. The leading ETFs in outflows were Fidelity’s FBTC, Grayscale’s GBTC, and Ark Invest’s ARKB, with outflows of $44.8 million, $34.2043 million, and $28.8 million respectively.

In contrast, Franklin Bitcoin ETF (EZBC) recorded a modest inflow of $1.9 million. This trend has reduced the cumulative total net inflow to $14.56 billion after 112 trading days, with Bitcoin spot ETFs’ total net asset value standing at $55.547 billion.

The persistent trend in Bitcoin spot ETF outflows has surfaced amid the ongoing downturn in the broader crypto market. Bitcoin has seen significant price fluctuations, trading as high as $71,907 on June 7 but plummeting by roughly 12% since then. The altcoin market has seen even greater losses, with double the percentage decline during the same timeframe.

The continuous withdrawals from Bitcoin spot ETFs highlight the persistent issues encountered by the emerging market. Investors are still struggling with uncertainty surrounding regulations and overall market instability. Even though a few institutional players are positive about Bitcoin’s future, recent withdrawals show the necessity for more growth and stability in the crypto system before it can be widely accepted.