Crypto Market Dynamics: Bitcoin and Ethereum ETFs Undergo Significant Outflows

Despite a mixed appetite for institutional investment in the crypto market this year, spot Bitcoin ETFs have seen significant outflows. According to data from SoSoValue, not a single US spot Bitcoin ETF recorded a net inflow on May 15, resulting in combined outflows of $290 million.

This trend is mirrored in Ethereum funds, which have been experiencing persistent withdrawals. The most recent episode saw a net loss of $65.65 million, marking the fifth consecutive day of outflows from these vehicles.