US spot Bitcoin and Ethereum ETFs witnessed a massive institutional pullback on Tuesday, with combined net outflows soaring to $797 million.
This wave of selling highlights growing caution among major investors amid a broader market downturn.
Data from SoSoValue reveals that spot Bitcoin ETFs faced a net outflow of $577.74 million, the largest single-day exodus since August 1.
The sell-off was widespread, with Fidelity's FBTC leading the decline with $356.6 million in outflows. This marks the fifth consecutive day of outflows for Bitcoin funds, totaling $1.9 billion over that period.
The recently launched spot Ethereum ETFs followed the same trend, with net outflows of $219.37 million.