ETF Market Sees Record Outflows Amid Bitcoin and Ether Decline
- Crypto exchange-traded funds (ETFs) experienced significant outflows, driven by major sell-offs in Bitcoin and Ether.
- Bitcoin alone recorded a historic weekly outflow of $1.33 billion.
- Solana managed to maintain modest gains despite the broader market downturn.
- XRP encountered its first weekly net outflow since its launch.
The week following the U.S. market holiday saw intensified selling pressure across crypto ETFs, particularly affecting Bitcoin and Ether with substantial capital withdrawals. Despite these challenges, Solana showed resilience with slight gains while XRP faced its initial net outflow week.
The $1.33 billion outflow from Bitcoin highlights the scale of investor retreat from crypto ETFs during this period, marking a significant shift in market dynamics for these digital assets.(Source)
