- Institutional selling continues amid outflows from exchange-traded funds.


Bitcoin spot ETFs saw outflows totaling $19 million over five consecutive days on Thursday, indicating that risk aversion remains in the overall cryptocurrency market. Total outflows amounted to $53.54 billion, down from $55.18 billion recorded on June 1, while the average net assets under management were $79.50 billion, down from $91.18 billion in the same period. Continued selling by institutions negatively affects market sentiment, reducing the likelihood of a bullish trend continuing.

Bitcoin ETF inflows | Source: SoSoValue
Meanwhile, Ethereum spot ETFs continued their decline for the third consecutive day, with total outflows of $16 million on Thursday. SoSoValue data shows outflows of approximately $41 million on Tuesday and about $36 million on Wednesday, leading to a decline in risk appetite for related digital investment products. The average cumulative inflows are $11.19 million, while net assets are $9.24 million.

Ethereum ETF inflows | Source: SoSoValue
In the meantime, demand for XRP spot ETFs remained weak, with no inflows recorded on Thursday, keeping cumulative inflows unchanged at $1.43 billion and net assets under management at $985 million. Continued demand for spot ETFs is crucial.
$BTC
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BTC-0.07%
ETH-0.94%
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