Institutional Selling Drives Major Outflows from Bitcoin and Ether ETFs
- Bitcoin and Ether ETFs experienced combined outflows of approximately $965 million over two days.
- Fidelity led the bitcoin outflows, shedding $197 million, while BlackRock drove ether redemptions for an eighth consecutive session.
- Trading activity surged to $3.81 billion across funds, with net assets falling to $104.91 billion, indicating active de-risking by institutions.
- XRP ETFs attracted $8.17 million in inflows through Franklin’s XRPZ, while NEAR ETF added $4.04 million despite broader market pressures.
- Zcash ETFs saw a loss of another $18.66 million, reducing net assets to $655.95 million.
The rapid sell-off in ETFs highlights a shift towards defensive strategies as major institutional players reduce exposure to cryptocurrencies amid market volatility.
This significant withdrawal underscores the current cautious stance of institutional investors in the crypto market, as evidenced by nearly $965 million in outflows from Bitcoin and Ether ETFs within just two days.
