Bitcoin and Ethereum ETFs Experience Outflows: A Closer Look

Recent data reveals a concerning trend in the US cryptocurrency ETF market. According to Odaily and Lookonchain reports, ten Bitcoin-based exchange-traded funds (ETFs) saw net outflows of over 2,050 BTC today. Fidelity led these outflows, experiencing a notable drop of 1,353 BTC, leaving them with a total holding of 194,273 BTC worth $16.33 billion. Furthermore, nine Ethereum-focused ETFs experienced significant outflows totaling 10,484 ETH. Grayscale ETHE accounted for nearly 6,657 ETH in this outflow, bringing their current holdings to 1,174,546 ETH worth $1.86 billion.