Spot ETF data, which indicates the direction of institutional investors in the crypto market, pointed to significant outflows last week.
There was $681 million in net outflows from the Bitcoin Spot ETF last week, according to SoSoValue data. This suggests that the market’s cautious tone is also being transmitted through the ETF channel.
Last week, the Bitcoin spot ETF with the highest net inflows was IBIT, managed by BlackRock. IBIT generates weekly net inflows of approximately $25.86 million, bringing its historical total net inflows to $62.41 billion.
However, the biggest outflows were seen in Fidelity’s FBTC ETF. FBTC topped the list with $481 million in net outflows during the week. Total net inflows to date reach $11.72 billion. This was followed by the Grayscale GBTC ETF, with weekly outflows of $172 million. The historic net outflow of GBTC reached $25.41 billion.
As of this writing, the total net asset value of Bitcoin Spot ETFs is calculated at $116.86 billion, increasing the ETF’s share of Bitcoin market capitalization to 6.48%. Cumulative net inflows to date amount to $56.4 billion.
A similar trend was observed on the Ethereum front. During the same period, the Ethereum Spot ETF experienced total net outflows of $68.57 million. BlackRock’s ETHA ETF had the largest weekly net inflows of $104 million, while Bitwise’s ETHW ETF saw $9.9 million in inflows.
The largest outflow occurred in Grayscale’s ETHE ETF, with weekly net outflows of $145 million. The total net assets of the Ethereum Spot ETF were $18.7 billion, with cumulative net inflows of $12.43 billion.
*This is not investment advice.
