$BTC Bitcoin Spot ETFs have suffered yet another blow, with institutional investors withdrawing over $900 million in the past week. This marks the fifth consecutive week of net outflows, highlighting growing uncertainty in the crypto market.
According to Farside Investors, total outflows from Bitcoin ETFs have now surpassed $5.4 billion over five weeks, significantly reducing market confidence.
BlackRock, Fidelity Among Hardest Hit
The latest wave of outflows was primarily driven by BlackRock’s IBIT, which recorded $338.1 million in net redemptions, and Fidelity’s FBTC, which saw $307.4 million in withdrawals.
Other Bitcoin ETFs experiencing significant outflows include:
Ark’s ARKB: $81 millionInvesco’s BTCO: $33 millionFranklin Templeton’s EZBC: $63 millionWisdomTree’s BTCW: $40 millionGrayscale’s GBTC: $50 million
Meanwhile, Bitwise’s BITB, Valkyrie’s BRRR, and VanEck’s HODL recorded minor outflows below $4 million. Interestingly, Grayscale BTC was the only fund to record inflows, adding $5.5 million.
Bitcoin ETF Assets Drop by 21.7% Amid Price Correction
The massive withdrawals are likely tied to Bitcoin’s 11.95% price decline over the last month, which saw BTC drop as low as $77,000. As a result, the total net assets of Bitcoin ETFs have plunged by 21.7%, now standing at $89.89 billion, according to SoSoValue.
At the time of writing, Bitcoin is trading at $84,009, showing little change over the past 24 hours.
Ethereum ETFs Also Suffer Major Withdrawals
Ethereum Spot ETFs have followed a similar trajectory, experiencing $189.9 million in outflows in the past week. This marks the third straight week of net withdrawals, bringing the total outflows to $645.08 million.
The largest ETH ETF withdrawals were seen in:
BlackRock’s ETHA: $63.3 millionOther Ethereum ETFs: Moderate outflows across multiple funds
Currently, the total net assets in the Ethereum ETF market stand at $6.72 billion, which accounts for 2.9% of ETH’s total market cap.
Despite the withdrawals, Ethereum has gained 0.73% in the last 24 hours, now trading at $1,924.
Market Outlook: Will ETFs Regain Momentum?
The continued exodus from both Bitcoin and Ethereum ETFs signals weak institutional confidence in the short term. However, as crypto markets stabilize and new catalysts emerge, a reversal in ETF inflows could be on the horizon.
Investors will closely watch Bitcoin’s $84,000 support level and Ethereum’s $1,870 floor for potential trend shifts.
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