Summary
Crypto spot ETFs suffered heavy outflows last week—about $1.23 billion from BTC funds and $312 million from ETH products—highlighting fragile investor confidence after October volatility, even as a few niche funds (notably a Solana ETP) saw inflows. Broader markets show a risk‑on backdrop with corporate bond spreads at multi‑decade tights, while industry activity surged: Stripe‑backed Layer‑1 Tempo raised $500 million, a major DC roundtable of crypto CEOs and lawmakers convenes, and the UK reopened retail access to crypto ETPs. The juxtaposition of short‑term ETF withdrawals with strong institutional fundraising, regulatory engagement, and product launches suggests macro liquidity and policy trends could quickly reignite flows, but investors face elevated tail‑risk as valuations sit late‑cycle.
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