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Bitcoin ETF Outflows and Housing Surplus Signal Market Shifts

Wall Street Journal Markets •
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Bitcoin ETFs kept shedding value on Monday as investors pulled $91.4 million out, according to CoinGlass data. The outflow, while smaller than the $300‑$500 million daily drains seen in recent weeks, extends a negative trend. Bitcoin itself slipped 1.9% to $62,257, leaving the digital‑asset class roughly $20,000 lower since mid‑May. Ethereum, XRP and Solana also posted declines. The trend raises concerns for fund managers.

Redfin’s May housing data showed sellers outnumbered buyers by 46.9%, a slight rise from April and a drop from the December 2025 peak of 49.5%. Markets in Nashville, Miami and Austin led the surplus, giving buyers negotiating leverage—but only for those who can afford a purchase. Nearly three‑quarters of U.S. metros now sit in buyer’s markets. Affordability constraints keep many potential buyers on the sidelines.

Citi analysts argue that investors undervalue Spanish banks’ exposure to Latin America, citing resilient regional economies and faster‑than‑market growth in BBVA and Santander’s Mexican operations. The peso’s rise against the euro adds a currency tailwind, prompting both shares to jump 1.8% on the news. The commentary suggests a re‑rating could boost earnings expectations for the two lenders. Analysts see further upside if peso gains continue.