Bitcoin, Ethereum ETFs See $10.2 Billion Outflow as Institutional Investors Flee

This week, the US Spot Bitcoin and Ethereum ETFs experienced significant net outflows, with Bitcoin ETFs seeing a net outflow of $8.299 billion and Ethereum ETFs experiencing a net outflow of $1.899 billion. These outflows indicate a substantial reduction in investor confidence in these cryptocurrency assets, as large institutional players such as BlackRock and Fidelity significantly reduced their holdings.

For Bitcoin, the net outflow amounted to $8.299 billion, which translates to a reduction of 10,358.34 BTC. This outflow was primarily driven by BlackRock, which reduced its holdings by 4,239.38 BTC, and Fidelity, which reduced its holdings by 3,813.02 BTC. The only day that saw a slight inflow was Wednesday, with 160.44 BTC added to the ETFs. The current price of Bitcoin is hovering around $84,000, and the market fear/greed index stands at 30, indicating a state of fear among investors. The upcoming Fed interest rate meeting on March 20th and the implementation of new tariffs in April are adding to the market's uncertainty and bleak sentiment.

Ethereum ETFs also faced a brutal outflow, with a total net outflow of $1.899 billion, equivalent to a reduction of 99,266.82 ETH. BlackRock and Fidelity were again the primary contributors to this outflow, reducing their holdings by 33,776.47 ETH and 31,695.05 ETH, respectively. This heavy selling pressure has caused the price of Ethereum to drop below the $2,000 mark, and the ETH/BTC exchange rate continues to decline, currently standing at 0.0229. The significant outflows in both Bitcoin and Ethereum ETFs suggest a broader shift in investor sentiment towards these cryptocurrencies, potentially driven by macroeconomic factors and regulatory concerns.