Spot Bitcoin exchange-traded funds (ETFs) in the United States experienced three consecutive days of net outflows, with a total of $74.19 million and $143.43 million in redemptions on Monday and Tuesday, respectively. Valkyrie's BRRR ETF saw the majority of outflows, with $60.42 million leaving the fund. However, BlackRock's IBIT ETF was able to offset some of the outflows with net inflows of $38.93 million. The nine Ethereum ETFs also experienced outflows on March 5, with $63.32 million leaving the funds, primarily from Grayscale's ETHE ETF. These outflows are believed to be linked to uncertainty surrounding former President Donald Trump's proposed US Crypto Strategic Reserve. Despite this, Bitcoin and the broader crypto market have recovered somewhat, with BTC trading near $92,500 and the total market cap remaining above $3.1 trillion. Analysts anticipate continued price volatility in the near term.



Other News from Today