On February 26, outflows from Bitcoin and Ethereum ETFs continued. Let's delve into the details.
Bitcoin Spot ETF Outflows
Bitcoin spot ETFs witnessed net outflows of $755 million on February 26, extending to a seven-day streak. This trend reflects weak market sentiment, compounded by recent BTC price decreases to multi-month lows.
Ethereum Spot ETF Outflows
Ethereum spot ETFs have also experienced outflows for the fifth consecutive day, with investors withdrawing $94.27 million. The Ethereum market is under pressure due to growing concerns over regulatory uncertainty and macroeconomic factors.
Investor Sentiment
The ongoing outflows highlight a shift in institutional sentiment, prompting investors to reassess their positions in crypto-related financial products. Along with continued ETF redemptions, the broader market is grappling with volatility, driven by factors such as declining futures premiums and U.S. Treasury yields.
With over $850 million withdrawn from Bitcoin and Ethereum spot ETFs in a single day, analysts closely monitor the market for signs of recovery or further downside risks.
