Bitcoin ETFs Face Significant Outflows Amid Selective Institutional Buying
- Bitcoin ETFs experienced a collective outflow of $89.90 million on Monday.
- ARKB led the outflows with $85.21 million, while Fidelity’s FBTC shed $74.55 million.
- Blackrock’s IBIT attracted $69.85 million, indicating selective institutional interest.
- Ether ETFs saw a five-day outflow streak totaling $50.76 million, with Blackrock’s ETHA losing $31.88 million.
- Solana and Zcash also faced pressure, with Solana ETFs losing $9.25 million and Zcash ETFs shedding $3.57 million.
- NEAR was the only positive performer, gaining an inflow of $539,640 through Bitwise’s NRR.
The cryptocurrency ETF market saw significant selling pressure at the start of the week, particularly affecting Bitcoin ETFs and Ether funds as institutional risk appetite narrowed to select products like Blackrock’s IBIT.
Despite the broad retreat in crypto ETF demand, Blackrock’s IBIT showed resilience by attracting substantial inflows even as other funds faced redemptions, highlighting a shift towards more selective institutional investments in the crypto space.( Source)
