Investors pulled $226 million from spot Bitcoin ETFs on Thursday.<\/p>\n
Crypto markets continued to slide on Friday, extending the downward trend that began on Thursday, as investors pulled over $200 million from spot Bitcoin Exchange Traded Funds (ETFs).<\/p>\n
Both Bitcoin <\/a>and Ethereum <\/a>dropped by more than 1%, while Solana slid by 4%, according to CoinGecko data<\/a>.<\/p>\n Data from Farside shows <\/a>that Bitcoin spot ETFs had over $226 million in net outflows on Thursday. Fidelity\u2019s FBTC was hit the hardest, with $106 million outflows, while Grayscale\u2019s GBTC saw $61 million in outflows, Ark Invest\u2019s ARKB experienced $52.7 million in withdrawals, and VanEck\u2019s ETF saw $11 million in outflows.<\/p>\n Withdrawals come after Bitcoin ETFs recorded inflows worth $100 million on June 12.<\/p>\n Meanwhile, in testimony to a Senate Appropriations Committee subcommittee, Securities and Exchange Commission (SEC) Chair Gary Gensler said that Ethereum ETFs will likely be approved <\/a>by the end of the summer.<\/p>\n Micha\u00ebl van de Poppe, founder and CEO of MN Trading, remains optimistic.<\/p>\n \u201cEthereum has corrected in the past three weeks, but slowly but surely, the momentum toward listing the Ethereum ETF will start to emerge,\u201d he said<\/a>. \u201cThe expectation is that the ETF will go live in July.\u201d<\/p>\n According to Julio Moreno, head of research at CryptoQuant, Ethereum on Friday experienced <\/a>one of its most significant days in terms of accumulation by long-term holders.<\/p>\n CryptoQuant data revealed that on June 12, accumulation addresses acquired 298,000 Ether tokens, worth $1.03 billion. The record for daily buying occurred on Sept. 11, when 317,000 ETH were purchased.<\/p>\n \u201cThe demand for Ethereum has surged,\u201d he said. \u201cBuying by permanent holders was the second highest on record yesterday.\u201d<\/p>\nETH ETFs Optimism<\/h2>\n