Bitcoin and Ether ETFs Experience Significant Outflows
- Bitcoin ETFs saw $228.9 million in outflows, marking a nine-day streak of redemptions.
- Ether ETFs lost $121.4 million, continuing a losing streak for the thirteenth day.
- Blackrock’s IBIT led Bitcoin ETF outflows with $177.94 million withdrawn.
- Total Bitcoin ETF net assets closed at $94.25 billion, remaining below the $100 billion mark.
- Altcoin ETFs like XRP and Solana showed inflows of $1.77 million and $484,370 respectively.
The cryptocurrency ETF market is experiencing significant withdrawals, particularly in major funds such as Bitcoin and Ether products, which together lost over $350 million recently. Despite these outflows, there is selective interest in altcoins like XRP and Solana.
This trend highlights a cautious approach by investors towards major cryptocurrencies while showing some appetite for alternative digital assets amid market volatility.(Source)
