Spot Bitcoin ETFs experienced a net outflow of approximately $95.3 million yesterday, while spot Ethereum ETFs saw outflows of roughly $52.2 million, signaling a reversal in institutional demand after a strong prior week.
The outflows follow a period of robust inflows during the week of July 6-10, when spot Bitcoin ETFs attracted $197 million in net inflows and spot Ethereum ETFs garnered $88 million. The abrupt shift suggests institutional investors are taking profits or reassessing positions following the previous week's gains.
The divergence in flows underscores the volatility in institutional appetite for crypto assets, with single-day outflows of this magnitude indicating either profit-taking at resistance levels or shifts in broader market sentiment.