Bitcoin and Ethereum ETFs See Significant Outflows of $530 Million & $57 Million

Exchange-traded funds (ETFs) for Bitcoin and Ethereum experienced substantial outflows, reaching $530.9 million and $56.8 million respectively on October 16th. This marks one of the largest withdrawal days in recent weeks, raising questions about market sentiment among institutional investors. Large ETF withdrawals may indicate caution amidst broader market uncertainty or short-term profit taking. The outflows suggest a cautious approach by large fund managers as both Bitcoin and Ethereum prices face fluctuating conditions.