💸 Bitcoin spot ETF has seen a net outflow of funds for 7 consecutive days, while Ethereum spot ETF has experienced a net outflow for 5 consecutive days.
On March 12, the Bitcoin spot ETF recorded a total net outflow of $371 million yesterday, marking 7 days of fund outflow.
Among them, BlackRock's Bitcoin ETF IBIT had a net outflow of $151 million in a single day, but its cumulative net inflow still reached $39.33 billion. Fidelity's Bitcoin ETF FBTC saw a net outflow of $107 million in a single day, with a cumulative net inflow of $11.32 billion.
It is worth noting that, apart from Grayscale's Bitcoin Mini Trust ETF BTC and Ark21&Shares' Bitcoin ETF ARKB, which did not experience any fund movement on that day, all other 8 Bitcoin ETFs had varying degrees of net outflow yesterday.
As of the time of writing, the total net asset value of Bitcoin spot ETFs is $92.84 billion, accounting for 5.65% of Bitcoin's market capitalization, with a cumulative total net inflow of $35.4 billion.
On the same day, the Ethereum spot ETF recorded a total net outflow of $21.57 million, continuing a trend of net outflows for 5 days.
Among them, BlackRock's Ethereum ETF ETHA had a net outflow of $11.82 million, while its cumulative net inflow still reached $4.2 billion. Fidelity's Ethereum ETF FETH saw a net outflow of $9.75 million, with a cumulative net inflow of $1.44 billion.
As of the time of writing, the total net asset value of Ethereum spot ETFs is $6.94 billion, accounting for 2.97% of Ethereum's market capitalization, with a cumulative total net inflow of $2.64 billion.
Opinion:
From the fund outflow situation of Bitcoin and Ethereum spot ETFs, both the 7-day fund outflow of Bitcoin ETFs and the 5-day fund outflow of Ethereum ETFs indicate that investors may hold a cautious attitude towards the market in the short term.
However, the cumulative net inflow data from giants like BlackRock and Fidelity also show that institutional investors' long-term positioning in the crypto market has not changed. Therefore, in the long run, the potential of the cryptocurrency market is still optimistic among many asset management giants.
What do you think? Do you believe the continuous outflow of funds from Bitcoin and Ethereum ETFs is a short-term adjustment or a change in market trend?
