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Compared to ETH, BTC's spot ETF data for the previous trading day still showed a net outflow, and the outflow volume was not low. Out of twelve spot ETF institutions, six experienced net outflows, totaling 3,451 BTC, including BlackRock. Only two institutions had net inflows, totaling 464 BTC. From the data perspective, spot ETF investors' sentiment towards buying BTC is not optimistic. Nevertheless, compared to CME futures, futures investors are more bullish. Although net outflows dominate, the total outflow volume only accounts for 0.3% of the total, which does not alter investors' long-term bullish expectations. Spot ETF data can represent the sentiment of some US investors but cannot determine the trend of BTC prices. The latest data has been updated, see the link for details.