Bitcoin, Ether ETFs See $152M in Outflows as BlackRock Leads Selling

ETF Outflows Signal Continued Market Sensitivity

U.S. crypto exchange-traded funds (ETFs) faced selling pressure on Friday, resulting in combined outflows of $152.07 million. Bitcoin ETFs accounted for $82.39 million of the red ink, while Ether ETFs saw $69.68 million exit. The outflows highlight the continued sensitivity of the ETF market to broader macroeconomic factors and risk sentiment.

BlackRock’s iShares Bitcoin Trust (IBIT) led the outflows, contributing significantly to the overall decline. While specific figures for IBIT were not immediately available, its position as the largest Bitcoin ETF suggests a substantial impact. Other digital assets also experienced declines, including Solana (SOL), XRP, and Zcash (ZEC).

Conversely, NEAR Protocol (NEAR) continued to attract investment, bucking the trend of widespread selling. This suggests selective demand within the altcoin market. The week concluded with a fragile demand picture for spot Bitcoin ETFs, as Friday’s outflows added to concerns about sustained investor interest. The market will be watching closely to see if this trend continues into the next trading week.

Source: Bitcoin.com News