Crypto ETFs Plummet Amid Institutional Exodus as Gold Steals Spotlight

Institutional investors are significantly reducing their exposure to crypto exchange-traded funds (ETFs), leading to outflows exceeding $795 million last week. This trend, reflected in Bitcoin and Ethereum ETF holdings hitting new lows, suggests a shift away from crypto markets driven by shifting market sentiment. 💰 Bitcoin spot ETFs witnessed net outflows of $713 million, with BlackRock’s IBIT seeing the largest outflow at $343 million. Meanwhile, Ethereum spot ETFs saw a significant outflow of $82.47 million. 📈 This exodus from crypto highlights a weakening market sentiment and raises concerns about sustained investment in this sector.