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Following the last trading window, the US Bitcoin Spot ETFs have recorded another week of overwhelming net outflows with investors pulling over $900 million from the market. This development marks the fifth consecutive week of redemptions indicating weak market confidence among institutional investors of the premier cryptocurrency. Related Reading: Ethereum Spot ETFs Outshine Bitcoin Counterparts With Double Market Inflows – Details Bitcoin Institutional Investors Withdraw For The Fifth Straight Week After a strong start to the year which saw the Bitcoin ETFs attract over $5 billion in investments, institutional investors have shown much caution in recent weeks indicated by massive withdrawals. According to data from Farside Investors, the Bitcoin Spot ETFs registered $921.4 million in net outflows during the past week culminating in an estimated total of $5.4 billion in the last five weeks. The majority of withdrawals from last week were pulled from BlackRock’s IBIT which recorded $338.1 million in net outflows. Fidelity’s FBTC followed closely with investors with fund redemptions outpacing deposits by $307.4 million. Other Bitcoin ETFs such as Ark’s ARKB, Invesco’s BTCO, Franklin Templeton’s EZBC, WisdomTree’s BTCW, and Grayscale’s GBTC all saw moderate net outflows between $33 million-$81 million.   Meanwhile, Bitwise’s BITB, Valkyrie’s BRRR, and VanEck’s HODL all recorded minor net outflows not greater than $4 million. Grayscale’s BTC emerged as the only fund to have a positive showing with net inflows of $5.5 million. The consistently high levels of withdrawals from the Bitcoin ETFs can be associated with the recent BTC market price correction. Over the last month, the maiden cryptocurrency has experienced a price decline of 11.95% reaching levels as low as $77,000. During this period, institutional investors have shown much caution, with the total net assets of the Bitcoin Spot ETFs decreasing by 21.70% to $89.89 billion according to data from SoSoValue. Related Reading: Bitcoin ETFs Coming To Japan? Government Prepares To End Ban Ethereum ETFs Lose $190 Million In Withdrawals Amidst the Bitcoin ETFs’ struggles, the Ethereum Spot ETFs market is experiencing similar investor sentiment following net outflows of $189.9 million in the last week. This development marks the third consecutive week of withdrawals, bringing the total net outflows to $645.08 million within this period. Similar to its Bitcoin counterpart, BlackRock’s ETHA experienced the largest withdrawals of the past week valued at $63.3 million. At the time of writing, total cumulative inflows into the Ethereum ETF market are valued at $2.52 billion with total net assets standing at $6.72 billion i.e. 2.90% of the ETH market cap. Meanwhile, Ethereum continues to trade at $1,924 reflecting a 0.73% gain in the past 24 hours. On the other hand, Bitcoin is valued at $84,009 with no significant price change on its daily chart. Featured image from jpm.law, chart from Tradingview