[Bitcoin Spot ETF Records Five Consecutive Weeks of Net Outflows, Totaling $3.8 Billion] BlockBeats News, February 22: The U.S. Bitcoin spot ETF has recorded net outflows for five consecutive weeks, with a total outflow of approximately $3.8 billion during this period. In the most recent week, there was a net redemption of $315.9 million, with the largest single-week outflow occurring during the week of January 30, reaching $1.49 billion. Although there were individual trading days with net inflows (such as last Friday, which recorded a net inflow of approximately $88 million), these were insufficient to offset the significant redemptions on other trading days. Since its launch, the Bitcoin spot ETF has still accumulated a net inflow of nearly $54.01 billion, with total net assets amounting to approximately $85.31 billion, accounting for about 6.3% of Bitcoin's total market capitalization. Market participants believe that this round of fund outflows reflects more of a phase of institutional risk-off behavior and portfolio rebalancing, rather than a structural abandonment of crypto assets. Affected by rising geopolitical risks, trade frictions, and macroeconomic uncertainties, overall market risk appetite has declined. ETF fund flows are highly correlated with macro variables such as Federal Reserve policy expectations and U.S. employment data. At the same time, Ethereum spot ETFs have also experienced five consecutive weeks of net outflows, with the most recent week seeing a net outflow of approximately $123.4 million. Analysts point out that the simultaneous pressure on Bitcoin and Ethereum products indicates that the fund withdrawals are more reflective of a contraction in overall digital asset allocation rather than issues with individual assets. Industry experts suggest that if subsequent U.S. macroeconomic data weakens and strengthens market expectations for interest rate cuts, digital asset ETFs may see a return of funds. Until then, institutional funds are likely to continue focusing on controlling risk exposure.