"Bitcoin ETFs experienced a net outflow of $74.53 million, with Fidelity's FBTC leading the decline at $45.35 million, indicating a decisive selling trend."
"Ether ETFs recorded $40.80 million in net outflows, primarily due to Blackrock's ETHA losing $24.97 million, reflecting a broader negative sentiment in the market."
"Despite the recent outflows, analysts believe Bitcoin ETFs are on the verge of recovery, with $2.5 billion in flows for the month and one good day away from overcoming year-to-date losses."
"XRP ETFs saw a modest inflow of $1.40 million, driven by Bitwise's XRP product, suggesting some pockets of resilience amidst the overall downturn in crypto ETFs."
Crypto ETFs are experiencing fragile momentum, with Bitcoin ETFs facing a net outflow of $74.53 million, primarily driven by Fidelity's FBTC. Ether ETFs also recorded $40.80 million in outflows, led by Blackrock's ETHA. Despite some inflows in smaller products, the overall trend remains negative. Trading volume for Bitcoin ETFs was $3.03 billion, while net assets fell to $89.74 billion. Analysts suggest that Bitcoin ETFs are close to recovering from earlier significant outflows, with a potential turnaround on the horizon.
Read at news.bitcoin.com
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