Recent data reveals substantial net outflows from U.S. spot Bitcoin and Ethereum ETFs, marking the most significant single-day withdrawals in nearly two months. According to NS3.AI, analysts suggest that these movements are driven by institutional investors seeking to reduce risk exposure amid increasing macroeconomic uncertainties, including rising interest rates and geopolitical tensions. This behavior is seen as typical risk-off actions rather than a structural decline in the crypto markets, indicating that institutions are proactively adjusting their risk rather than abandoning crypto assets.