I just saw the data flow for BlackRock's crypto ETF last week, and it was quite brutal. Their spot Bitcoin and Ethereum funds recorded a combined outflow of around $443 million amid market selling pressure. The most noticeable was from IBIT (BlackRock's Bitcoin ETF) which outflowed $158 million, but the worst was ETHA (Ethereum ETF) with an outflow of $285 million. The week started well, with an inflow of $160 million at the beginning, but it immediately reversed. The largest outflow at the end of the week occurred on March 27, with $201 million leaving Bitcoin and $70 million leaving Ethereum. It's interesting to see the difference — Bitcoin still received some buying interest amid the selling, but Ethereum consistently exited throughout the week. This indicates that institutional investors via BlackRock are more cautious with Ethereum compared to Bitcoin. The market is struggling; Bitcoin is trying to hold at $65K while Ethereum is struggling more. It seems the risk-off sentiment still dominates for now.

BTC-0.26%
ETH-0.61%
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