Bitcoin and Ethereum ETFs Face Continuous Outflows as Bear Market Persists

In the United States, Bitcoin and Ethereum exchange-traded funds (ETFs) have seen persistent outflows signifying investor wariness amidst a bear market phase. According to the latest data, Bitcoin ETFs witnessed outflows totaling $103.5 million on a single day, continuing a downward trend for the fifth consecutive day. With an aggregating outflow of $1.72 billion since January 16, the total net assets under management (AUM) for these ETFs dropped notably from previous levels. Ethereum ETFs followed suit, marking their fourth day of outflows, exemplifying a broader sentiment of caution among digital assets investors. Amongst the products, BlackRock’s IBIT experienced the largest outflow at $101.62 million, closely tailed by Fidelity’s FBTC which faced $1.95 million in redemptions. This series of redemptions has diminished the cumulative total net inflow significantly, implying a potential shift in investor sentiment as market conditions continue to evolve.