Recent data reveals significant outflows from U.S.-listed spot crypto ETFs, with investors pulling a net of $945 million in just one day, signaling a shift in portfolio strategies. This trend suggests institutional investors are repositioning their portfolios in anticipation of key macroeconomic events, including the potential for interest rate cuts and uncertainty surrounding the Fed’s monetary policy path. According to SoSoValue statistics, Fidelity’s FBTC and FETH funds suffered particularly heavy losses, while Grayscale’s GBTC and other prominent ETFs like ETHE also witnessed outflows. Market analysis suggests that these outflows may be driven by investors taking profits from recent market peaks, shifting assets towards traditional markets like U.S. Treasury bonds or cash, or anticipating potential risks associated with inflation and a strengthening dollar.