Bitcoin and Ether ETFs Face Significant Outflows as Altcoins Gain
- Bitcoin ETFs lost $483.8 million on June 1, with Blackrock IBIT leading outflows at $440.3 million.
- Ether ETFs experienced a net outflow of $44.44 million, marking the fifteenth consecutive day of withdrawals.
- XRP ETFs gained $4.13 million, indicating selective institutional demand for altcoins.
- Morgan Stanley’s MSBT saw a small inflow of $6.14 million amidst the broader selloff in Bitcoin ETFs.
The beginning of June continued the trend from May, with significant outflows from major ETFs, particularly those focused on Bitcoin and Ether, signaling investor caution in these assets.
Despite the substantial withdrawals from Bitcoin and Ether funds totaling over $528 million, the inflows into XRP and other altcoin products highlight a shift towards more selective investments by institutions. (Source)
