Bitcoin ETF Outflows Spike Amid Market Fluctuations

• Bitcoin ETFs see $438M outflows, led by BITB at $280M, ending 5-day inflow streak.
• Ethereum ETFs post $2.8M inflows, contrasting Bitcoin’s trend amid steady trading volumes.
• Last week saw record $3.13B inflows, but European markets faced $141M outflows.

Bitcoin ETFs saw significant outflows on Monday, ending a five-day inflow streak. This shift in the crypto market saw total outflows of approximately $438.4 million, suggesting a change in investor sentiment towards Bitcoin as a long-term investment.

Bitwise’s BITB had the largest outflows on Monday, losing over $280.7 million in investor funds. Grayscale’s GBTC followed with outflows of $158.2 million.

Fidelity’s FBTC also had withdrawals of $134.7 million, while Ark’s ARKB and 21Shares had combined outflows of $110.9 million.

Invesco, Valkyrie, and VanEck spot Bitcoin ETFs also had outflows, adding to the day’s negative trend.

However, a few ETFs went against the trend. BlackRock’s IBIT, the largest spot Bitcoin ETF with $31.6 billion in cumulative inflows, had a net inflow of $267.8 million on Monday. Grayscale’s Mini Bitcoin Trust also had an inflow of $420,460, which shows continued investor interest in some Bitcoin investment products.

Trading activity in Bitcoin ETFs, however, was strong, with total trades reaching $5.6 billion, up from $5.4 billion on Friday. These funds have total net assets of $102.2 billion, which is 5.4% of Bitcoin’s total market capitalization.

Ethereum ETFs Show Gains

While Bitcoin ETFs had these outflows, Ethereum ETFs showed a different trend. On Monday, U.S. spot Ethereum ETFs had net inflows of $2.8 million, led by Bitwise, Fidelity, and VanEck funds.

But some Ethereum-focused ETFs, including those from 21Shares and Grayscale, had net outflows. Last Friday, the total trading volume for Ethereum ETFs rose to $711.2 million from $373.9 million.

Despite the outflows, Bitcoin ETFs have performed well in recent weeks. Last week, digital asset investment products, led by Bitcoin ETFs, had a net inflow of $3.12 billion. This brought the total inflows to $37 billion, which shows continued institutional interest in crypto assets.

However, this optimism was tempered by outflows in European markets. Germany, Sweden, and Switzerland lost a combined $141 million. In contrast, markets in Australia, Canada, and Hong Kong had combined inflows of $70 million.