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U.S. Spot Crypto ETFs See Heavy Outflows
U.S. spot crypto ETFs recorded around $591.8M in combined net outflows yesterday.
#Bitcoin ETFs led the selling with $450.33M in outflows, while Ethereum ETFs saw another $141.47M leave the market.
Fidelity and BlackRock were among the largest sources of BTC ETF outflows.
At roughly $75.9K per BTC, the Bitcoin ETF outflow was equivalent to around 5,933 BTC more than 13 days of newly mined Bitcoin supply.
A notable shift in institutional flows that the market will be watching closely.
What do you think temporary profit-taking or a broader change in demand?
#ShareWeekly
#FOMCMeetingAnalysis $BTC