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21/01/26 08:40 UTC-04

BTC and ETH ETFs Lose a Combined $713 Million Amid Market Turmoil

On Tuesday, January 20, amid ongoing market turbulence, the combined net outflows from exchange-traded funds based on Bitcoin and Ethereum exceeded $713 million.

According to data from SoSoValue, eight spot Bitcoin ETFs recorded a combined daily net outflow of $483.4 million on Tuesday.

Grayscale’s GBTC led capital losses, with $160.8 million withdrawn from the fund. It was followed by Fidelity’s FBTC, from which investors pulled approximately $152 million.

On Tuesday, the net outflow from six spot Ethereum funds totaled $230 million, ending a five-day streak of inflows. Yesterday, $92.3 million was withdrawn from BlackRock’s ETHA fund.

The outflows are occurring amid a broader downturn in the cryptocurrency market: today Bitcoin fell below $89,000 after trading above $97,000 just a week ago. Ethereum’s price dropped below $3,000.

Many experts attribute this market decline to ongoing macroeconomic and geopolitical uncertainty, as the trade dispute between the United States and the European Union over control of Greenland appears unlikely to be resolved anytime soon.

On Tuesday, spot XRP ETFs mirrored the dynamics of Bitcoin and Ethereum, posting outflows of $53.3 million. This marked the largest single-day outflow from XRP funds. In contrast, spot Solana ETFs recorded a net inflow of $3 million.

See also: "Bitcoin price today: stuck near $90,000 amid Greenland tensions"

#Bitcoin (BTC) #Ethereum (ETH) #ETF

Editor: Yulia Krasnaya
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