US spot crypto ETFs post $540M net outflows on Thursday

The swing back to outflows right after a run of inflows suggests ETF flows are tracking the broader post-election market move rather than reflecting a change in structural demand, which makes the reversal less informative than its size implies. What matters is whether this is a one-day reaction to the selloff or the start of a more persistent de-risking across the largest products. The open question is whether flows stabilize once the market settles, or whether continued withdrawals confirm that recent inflows were tactical rather than durable.