Bitcoin and Ethereum spot ETFs are showing signs of cooling demand, with monthly average netflows remaining negative, according to on-chain analytics firm Glassnode. What’s happening - Glassnode’s latest post on X highlights that the 30-day simple moving average (SMA) of netflows for both US Bitcoin and Ethereum spot ETFs has largely stayed in negative territory since November, signaling sustained net capital outflows. - Both ETFs briefly flipped to positive inflows earlier this month, but those gains were short-lived and the SMA quickly returned to the red. Ethereum’s spot ETFs mirror Bitcoin’s pattern, with a short-lived inflow period followed by renewed outflows. Why it matters - Spot ETFs let investors gain exposure to crypto without touching blockchain infrastructure; the funds buy and custody the tokens on investors’ behalf. US spot ETFs—approved by the SEC for Bitcoin in January 2024 and Ethereum in July 2024—have become central to institutional access to digital assets. - Despite that structural demand channel, the flow data suggests ETF investors have been withdrawing more capital than they’re putting in recently. Glassnode bluntly summarizes the picture: “There is no sign of renewed demand.” Market context - Outflows have eased somewhat from their worst levels, but the persistence of negative netflows raises questions about how long this phase of capital withdrawal will continue and what it might mean for price momentum. Price snapshot - At the time of reporting, Bitcoin was trading around $88,000, down roughly 3.5% over the past seven days. Bottom line - US spot ETFs remain a key on-ramp for institutional crypto exposure, but current flow data points to a cooling in ETF-driven demand. Observers will be watching whether inflows return or outflows continue to shape market dynamics. Read more AI-generated news on: undefined/news

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