🟠 Bitcoin and Ethereum ETFs face a $503 million outflow wave, intensifying selling pressure
Cryptocurrency exchange-traded funds (ETFs) face a tough week, with significant outflows from Bitcoin and Ethereum. Smaller assets show mixed resilience, with XRP attracting moderate inflows.
Crypto ETFs decline, with Bitcoin and Ethereum recording major weekly losses
The last full trading week of March started with optimism, but the results were disappointing. The brief rebound in Bitcoin ETFs quickly turned into sustained selling pressure, setting the tone for cautiousness, rotation, and selective confidence this week.
Bitcoin spot ETFs saw a net outflow of $296.18 million this week, reversing recent momentum. The inflow on Monday morning, March 23, was driven by strong allocations to BlackRock’s IBIT and Fidelity’s FBTC, but this was short-lived. By midweek, market sentiment shifted.
IBIT became the main driver of overall outflows, including a $201 million withdrawal on Friday, March 27. Fidelity’s FBTC followed closely, with continuous redemptions across multiple trading sessions, but ended the week with a net inflow of $46.88 million.
Despite the positive net inflow for FBTC, Bitwise’s BITB and Ark & 21Shares’ ARKB still recorded significant weekly losses, further exacerbating capital outflows. Grayscale’s GBTC continued steady outflows, while smaller products like Bitcoin Mini Trust, VanEck’s HODL, Franklin’s EZBC, and Valkyrie’s BRRR experienced mixed, mostly moderate flows, with little impact on the overall trend.
Ethereum ETFs performed even worse in consistency, though not as severely. The group recorded a net outflow of $206.58 million, continuing almost uninterrupted daily declines. BlackRock’s ETHA led the downward trend, including multiple significant redemptions, defining the week. Fidelity’s FETH, Grayscale’s ETHE and its Mini Trust, Bitwise’s ETHW, 21Shares’ TETH, VanEck’s ETHV, and Invesco’s QETH all contributed to the negative flows.
