📉🔍 US Bitcoin ETFs are seeing a trend of outflows, with BlackRock's IBIT ETF experiencing its first. This comes as Bitcoin faces its toughest month since the 2022 FTX collapse, down 11% this week.

• BlackRock's Bitcoin fund saw a $36.9M outflow on May 1st.

• Nine other ETFs recorded a collective $526.8M outflow the same day.

• The largest outflow was from Fidelity Wise Origin Bitcoin Fund ($191.1M), followed by Grayscale Bitcoin Trust ($167.4M).

Despite this, Bitcoin is trading at $57,600, and most alts are performing better.

Analysts like James Seyffart and Nate Geraci remind us that such fluctuations are normal in the ETF lifecycle. Geraci compares it to gold ETFs, which have seen significant outflows despite a 16% price surge this year.

What do you think? Is this a temporary setback or a sign of things to come? Share your thoughts below! 🗨️ #Bitcoin #ETFs #CryptoMarket