The crypto market is going through divergent sentiments in the U.S. as well as European investment sectors. As per the data provided by CoinShares, spot $BTC ETFs witnessed a loss of $186.28M while $ETH ETFs saw $22.46M in outflows on February 11, showing a decline in comparison with the European market. The well-known European investment firm CoinShares took to social media to disclose the opposing investment dynamics of spot ETFs in Europe and the United States.
Spot Bitcoin and Ethereum ETFs Lose $186M and $22M in U.S.
CoinShares’ data highlights cumulative outflows of $186.28M in the case of $BTC spot ETFs on the 11 of February. Simultaneously, the spot Ethereum ETFs recorded an outflow of $22.46M. The respective figures reportedly point toward an increasing uncertainty across the market in the United States. A possible reason behind the respective uncertainty deals with the investors’ inactivity while they potentially reassess positions amid widespread volatility.
European $BTC ETPs Add $28.31M Whereas Ethereum ETPs Pocket $16.21M
On the other hand, cryptocurrency investment products in Europe continue to show resilience. In line with the data, the Bitcoin exchange-traded product within Europe saw $28.31M in inflows. The respective development displays a relatively positive market scenario. Hence, the European market is experiencing a steady demand from the investors. Analogously, Ether ETPs went through $16.21M in inflows, mirroring ongoing confidence in the long-term potential of Ethereum. Apart from that, other ETPs of altcoins have positive flows of $11.57M, indicating a wider optimism.
Shifting Macroeconomics and Profit-Taking Result in Divergence Across ETF Market
According to CoinShares’ data, the stark difference between the European and the U.S. market flows in the spot ETFs signifies divergent investor behavior. The market onlookers consider the sell-offs in the $BTC spot ETFs in the U.S. may have emerged from shifting macroeconomics or profit-taking activities. Nevertheless, this divergence appears to be momentary and the outcomes thereof are still to be seen.
