Crypto ETFs Continue Downward Trend Amidst Caution

Crypto exchange-traded funds (ETFs) continued their downward trend on Thursday, as Bitcoin and Ether recorded substantial outflows.

Bitcoin ETFs saw a net outflow of $90.19 million, marking the second consecutive day of withdrawals. The largest contributors to this decline were Blackrock's IBIT and Fidelity's FBTC, which combined for over $64 million in withdrawals.

Ether ETFs fared even worse, with total outflows reaching $136.41 million. The majority of these losses came from Blackrock's ETHA, which experienced a sharp withdrawal of $102.31 million.

However, not all funds were affected equally. Grayscale's Bitcoin Mini Trust and Franklin's EZBC attracted fresh capital, with inflows of $4.66 million and $4.06 million, respectively.