Bitcoin and Ethereum ETFs See Massive Outflows 📉

Bitcoin and Ethereum Exchange-Traded Funds (ETFs) have experienced massive outflows recently. In Bitcoin ETFs, 3,674 BTC, equivalent to $343.96 million, were withdrawn. Bitwise led this withdrawal, accounting for 2,957 BTC valued at $276.84 million, leaving them with 40,186 BTC worth approximately $3.76 billion.

Ethereum ETFs also faced significant withdrawals, recording a net outflow of 1,787 ETH, which sums up to $5.92 million. Grayscale, under its ETHE product, was responsible for a considerable chunk of this, unloading 5,941 ETH valued at $19.7 million. Their holdings are now at 1,502,976 ETH, equivalent to around $4.98 billion.