Institutional Selling Drives Major Outflows in Crypto ETFs
- Bitcoin and Ether ETFs collectively lost $647.84 million on Wednesday.
- Blackrock led major redemptions, contributing significantly to the outflows.
- Grayscale’s GBTC and Bitwise’s BITB saw outflows of $39.29 million and $27.59 million, respectively.
- Trading value increased to $2.80 billion, approximately $1 billion more than the previous session.
- NEAR was the only crypto ETF category with positive inflows, attracting $3.34 million.
The significant outflows from crypto ETFs on Wednesday highlight a broad institutional sell-off, with major players like Blackrock leading the charge. Despite higher trading volumes suggesting active repositioning, demand for crypto ETFs appears fragile following weeks of accumulation.
Wednesday’s activity underscores a potential shift in institutional sentiment towards risk reduction across key digital assets like Bitcoin and Ether, while NEAR remains an exception with positive inflows amidst widespread sell-offs.
