$BTC and $ETH : Spot ETFs see simultaneous outflows
Are institutional investors pulling out?
The crypto market has continued to fall recently, and ETF flows have also begun to show significant changes.
According to Farside data, U.S. spot Bitcoin ETFs saw net outflows of $484.9 million on October 7, followed by another $244.1 million on October 8.
On October 12, Bitcoin ETFs saw another $65.4 million in net outflows. Ethereum ETFs recorded net outflows of about $85.4 million that same day, bringing the combined total to roughly $150.8 million.
The market had long viewed spot ETFs as the most important source of incremental capital in this bull run. Recent data, however, shows that institutional capital is also affected by macroeconomic conditions.
With the Federal Reserve discussing rate hikes again and the dollar and Treasury yields remaining high, it is hardly surprising that capital is temporarily moving away from volatile assets.
That said, consecutive outflows do not mean institutions have completely abandoned the crypto market.
What I care about more is whether ETF flows can turn positive again once the price of $BTC stabilizes. If the price rebounds while outflows continue, the sustainability of that rally will be questionable.
Are institutional investors pulling out?
The crypto market has continued to fall recently, and ETF flows have also begun to show significant changes.
According to Farside data, U.S. spot Bitcoin ETFs saw net outflows of $484.9 million on October 7, followed by another $244.1 million on October 8.
On October 12, Bitcoin ETFs saw another $65.4 million in net outflows. Ethereum ETFs recorded net outflows of about $85.4 million that same day, bringing the combined total to roughly $150.8 million.
The market had long viewed spot ETFs as the most important source of incremental capital in this bull run. Recent data, however, shows that institutional capital is also affected by macroeconomic conditions.
With the Federal Reserve discussing rate hikes again and the dollar and Treasury yields remaining high, it is hardly surprising that capital is temporarily moving away from volatile assets.
That said, consecutive outflows do not mean institutions have completely abandoned the crypto market.
What I care about more is whether ETF flows can turn positive again once the price of $BTC stabilizes. If the price rebounds while outflows continue, the sustainability of that rally will be questionable.