Recently, Hong Kong's Bitcoin spot ETFs observed their second consecutive day of net outflows since their introduction on April 30. On Thursday, approximately 90.16 BTC, equivalent to about 44.5 million Hong Kong Dollars (HKD), were withdrawn from the three approved funds, marking a decline in their total assets. The data comes from SoSo Value, a reliable source for ETF information.

The outflows were primarily driven by China Asset Management's spot Bitcoin ETF, which experienced a substantial withdrawal of over $39.5 million HKD as 80.16 BTC left the fund. Additionally, the Bosera HashKey Bitcoin ETF recorded a smaller outflow of 10 BTC, resulting in around $4.9 million HKD being withdrawn from the fund. Notably, Harvest's spot Bitcoin ETF did not experience any flow activity on the same day.

These outflows contrast with the modest inflows recorded in the preceding days. On Tuesday and Wednesday, the ETFs saw net inflows of 99.99 BTC and 101.6 BTC, respectively. As of Thursday, the combined assets of the three ETFs amounted to approximately 4,260 BTC, translating to a total net asset value of around $261.45 million, indicating progress from their initial combined assets of $247.7 million.

Despite the outflows, the total trading volume for the three ETFs indicated reduced activity on Thursday, amounting to $2.06 million, a significant decline from the previous day's volume of $2.67 million and a substantial decrease from the $9.74 million recorded on April 30.

In parallel with the Hong Kong spot Bitcoin ETFs, their counterparts in the United States also experienced a net outflow of $11.29 million on Thursday. Meanwhile, Bitcoin itself saw a 2.43% increase over 24 hours, trading at $62,906.

In conclusion, the recent outflows from Hong Kong's Bitcoin spot ETFs signify a shift in investor sentiment, leading to a decline in their total assets. Despite this, the cryptocurrency market remains dynamic, with Bitcoin showing resilience with its price gains.