Crypto
BTC ETF Outflows Persist as Institutional Investors Seek Alternatives in Solana and XRP
US-listed Bitcoin exchange-traded funds (ETFs) recorded $226.84 million in net outflows last week, marking a sixth consecutive week of withdrawals.
The total assets under management for these funds dropped to $78.32 billion, according to SoSoValue data. This trend contrasts with the inflows seen in spot Solana ETFs and XRP ETFs, which attracted $7.11 million and $10.66 million respectively.
CryptoQuant analyst Gaah stated that Bitcoin's Cycle Momentum indicator is still below its neutral threshold at -11.4, a level associated with bear-market conditions. This suggests that institutional investors remain cautious about investing in Bitcoin.