Bitcoin ETFs draw $119M as Ether funds post sixth outflow
U.S. spot Bitcoin ETFs took in $119 million Tuesday, while Ether ETFs lost $202 million, extending their outflow streak to six trading sessions.
U.S. spot Bitcoin exchange-traded funds recorded $119 million in net inflows Tuesday, reversing a $90 million outflow on Monday, according to SoSoValue data. Ether ETFs posted $202 million in net outflows, extending their outflow streak to six trading sessions.
Bitcoin declined during Tuesday’s session, falling from above $86,600 to below $84,000. BTC traded at $83,971 at the time of publication, down 2.1% over 24 hours, according to CoinGecko.
Ether ETF outflows rose from about $51 million on Monday. The funds recorded approximately $408 million in combined outflows over the six-session period.
CryptoQuant contributor MorenoDV attributed the selling pressure on Bitcoin to profit-taking while the cryptocurrency traded well above the estimated $68,900 cost basis of active traders. The contributor linked a recovery to whether new demand could absorb the selling.
Other crypto funds posted mixed results Tuesday. XRP ETFs recorded $3.1 million in net inflows, while Solana ETFs had $3.7 million in net outflows. Zcash ETFs recorded no net flows after posting outflows during the previous two trading sessions.
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