Crypto Market Sentiment Deteriorates as Spot ETFs Record Significant Outflows

The past week has seen significant movement in the spot ETF market, with Ethereum and Bitcoin both experiencing net outflows.

Ethereum spot ETFs saw a total of $216 million withdrawn over the course of the week, marking a concerning trend for the crypto asset. This is particularly notable given that these funds have been experiencing ten consecutive days of net outflows.

BlackRock's Ethereum-based ETF, ETHA, led the way in this regard, with $5.64 million withdrawn on Friday alone.