Bitcoin and Ethereum exchange-traded funds (ETFs) have experienced significant outflows, signaling a shift in investor sentiment according to Lookonchain data.
Bitcoin ETF Outflows
The net outflow from Bitcoin ETFs was 1,818 BTC, equivalent to $153.11 million. Fidelity led the withdrawals, offloading 939 BTC worth $79.05 million. However, Fidelity still holds 194,270 BTC valued at $16.36 billion.
Ethereum ETF Outflows
The net outflow from Ethereum ETFs was 17,187 ETH, equal to $33.24 million. The largest single withdrawal occurred in BlackRock’s iShares ETF, with 8,175 ETH ($15.81 million) withdrawn. Currently, iShares holds 1,248,688 ETH valued at $2.41 billion.
Changing Investor Sentiment
These outflows highlight a shift in investor sentiment regarding Bitcoin and Ethereum ETFs, suggesting the need for more strategic investment approaches.
The shifting sentiments among investors in the ETF space point to the necessity of adapting investment strategies to cope with evolving market conditions.
