Increased uncertainty and volatility in global markets have had a sharp impact on funds traded on cryptocurrency exchanges. Spot Bitcoin and Ethereum exchange-traded funds (ETFs) traded in the US recorded net outflows of approximately $713 million on Tuesday. The data reveals a strengthening of investor risk aversion in the short term.
According to data shared by SoSoValue, eight different spot Bitcoin ETFs experienced a total daily net outflow of $483.4 million. Grayscale’s GBTC fund led the outflows with $160.8 million, followed by Fidelity’s FBTC fund with a $152 million outflow. These figures indicate continued selling pressure following the $395 million outflow recorded last Friday.
The picture was similar on the Ethereum side. Six different spot Ether ETFs experienced a total net outflow of $230 million, marking the end of a five-day streak of positive inflows. BlackRock’s ETHA fund alone saw an outflow of $92.3 million.
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