ETF Bloodbath: BlackRock and Fidelity Drive $425M Exodus from Bitcoin Funds
Crypto ETF flows faced a brutal start to the week on Monday, July 13, as Bitcoin ETFs suffered a staggering $424.66 million in outflows. This sudden wave of selling was spearheaded by industry titans BlackRock and Fidelity, marking a significant shift in short-term institutional sentiment.
The broader market felt the chill, with Ether funds losing $15.41 million and Solana and XRP products seeing zero trading activity. According to Glassnode, the current ETF trading volume sits 78% below its historical peak, highlighting a significant liquidity drought and a subdued trading environment for digital assets.
While HYPE ETFs also slipped, XRP and Solana products saw no trading activity in what can only be described as a subdued session. Adding to the bearish tone, Glassnode reports that ETF trading volume currently sits 78% below its peak, indicating a sharp decline in market engagement compared to previous highs.
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