U.S. spot Bitcoin ETFs saw $483.8 million in net outflows on June 1, while spot Ethereum ETFs saw $44.5 million in net outflows.
Bitcoin fell toward the $70,000 area as ETF outflows deepened and the market extended its risk-off move into June.
Crypto market capitalization dropped about 2.6%, with Bitcoin down nearly 3.5% while defensive sentiment strengthened across the market.
Ethereum stayed under pressure near the $2,000 level as ETF redemptions and weaker on-chain activity continued to weigh on sentiment.
The CFTC approved the first Bitcoin perpetual futures contract in the U.S., while SharpLink Gaming, an Ethereum treasury company, was set to join the Russell 2000 and Russell 3000 indexes.
Bitcoin is trading around $69,900, while Ethereum is trading around $1,982.
The Fear and Greed Index stands at 30, indicating fear in market sentiment.
