Bitcoin and Ethereum ETFs Experience Significant Outflows
- Bitcoin ETFs saw net outflows of $648.64 million, marking one of the steepest single-day declines this year.
- Blackrock’s IBIT fund experienced a significant outflow of $448.36 million.
- Ether ETFs recorded net outflows of $86.31 million, with Blackrock’s ETHA leading the decline at $55.40 million.
- Despite the withdrawals, trading activity in Bitcoin ETFs surged to $3.14 billion.
- Solana and XRP ETFs remained positive, with Solana trading at $63.45 million and XRP recording a net inflow of $750,440.
Institutional investors are reducing risks in crypto exchange-traded funds (ETFs), as seen by heavy withdrawals from Bitcoin and Ether products amid market volatility and cautionary sentiment shifts.
The substantial outflows from Bitcoin and Ether ETFs highlight a defensive shift among institutional investors, while smaller assets like Solana and XRP attract selective buying despite broader market weakness.(Source)
