Bitcoin ETFs See Significant Outflows; Ethereum Products Also Affected

An alarming trend continues in the cryptocurrency exchange-traded fund (ETF) market as Bitcoin ETFs witnessed substantial outflows, continuing a four-day downward streak. According to recent market data, an aggregated $509.7 million left Bitcoin ETFs on January 30. Ethereum ETFs were not immune, bleeding $252.9M in the same period, suggesting a broader sentiment of caution among investors. BlackRock's IBIT led the pack with significant outflows, while a select few, such as Fidelity's FBTC, managed to attract modest inflows. Over a two-week period, approximately $2.82 billion has been drawn from Bitcoin ETFs alone. Despite the outflows, trading volumes remained active, with $5.32 billion worth of Bitcoin and $1.80 billion of Ethereum ETFs traded on the final day of January. The outflow pattern reflects caution amid market volatility, with Bitcoin struggling to maintain traction near the $83,000 mark and investors reassessing their positions in digital asset funds.