Bitcoin, Ethereum ETFs Bleed as Crypto Funds Shed $1.07 Billion, Ending 6-Week Win Streak

💡 Crypto funds have lost $1.07 billion, ending a six-week winning streak.

The crypto market has taken a significant hit, with Bitcoin and Ethereum ETFs bleeding as crypto funds shed $1.07 billion, ending their six-week winning streak.

The latest data from Yahoo Finance shows that the $BTC and $ETH ETFs have taken a beating, with the former losing 4.8% and the latter declining 5.4% over the past week.

Crypto Funds Underperform

The sector has struggled to maintain momentum, with the $ARKK ETF, an actively managed fund that focuses on innovation and technology, losing 6.2% over the past week.

ETF Outflows

The outflows from crypto funds have been significant, with $ARKK experiencing a net outflow of $43.8 million, while the $BITO ETF, which tracks the price of Bitcoin, saw a net outflow of $13.1 million.

Market Sentiment

The decline in crypto funds has weighed on market sentiment, with the $SPY ETF, which tracks the S&P 500 index, falling 1.5% over the past week.

What It Means for Investors