U.S. spot bitcoin ETFs returned to net outflows on Wednesday, losing $61.16 million after Tuesday’s modest rebound. Ether funds saw a $7.38 million inflow, while solana, XRP and HYPE ETFs recorded no net activity.
Fidelity Pulls $46.8M From FBTC as Bitcoin ETFs Turn Red
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Key Takeaways
- Fidelity and Blackrock drove $61.16M from bitcoin ETFs Wednesday, reversing Tuesday’s rebound.
- Blackrock’s ETHA helped ether gain $7.38M as institutional demand shifted away from bitcoin.
- Solana, XRP and HYPE logged zero net flows, leaving the next ETF move concentrated in bitcoin and ether.
Ether ETFs Add $7.38M as Bitcoin ETFs Post $61.16M Exit
The midweek session brought another shift in tone for crypto ETF flows. Bitcoin lost ground again as redemptions resurfaced in two of the market’s largest funds, while ether quietly attracted fresh capital and the smaller altcoin categories remained still.
That left the day’s activity concentrated almost entirely in the two largest crypto assets.
Fidelity and Blackrock Drive Bitcoin Outflows
Bitcoin ETFs recorded $61.16 million in net withdrawals, with the entire decline split between Fidelity and Blackrock.
Fidelity’s FBTC saw the larger exit at $46.82 million. Blackrock’s IBIT added another $14.34 million in outflows. No other bitcoin fund reported net flow activity during the session. Total trading value across the category reached $1.19 billion, while combined net assets closed at $77.37 billion.
The result erased the modest $4.89 million inflow recorded a day earlier and added to the choppy tone that has defined Bitcoin ETF demand so far this week.
Ether Finds Buyers as Altcoin Funds Go Quiet
Ether ETFs finished in positive territory with $7.38 million in net inflows.
The fresh capital was directed primarily into Blackrock’s ETHA, giving the category a clean gain after two sessions of weak or negative flows earlier in the week. Total ether ETF trading value came in at $358.38 million. Combined net assets closed at $10.53 billion.
The contrast with bitcoin was notable in size and direction. Ether’s inflow was modest, yet it arrived during a session when bitcoin funds saw renewed selling pressure from two heavyweight issuers.
Activity elsewhere was muted.
Solana, XRP and HYPE ETFs all recorded zero net flows for the day. Existing shares could still change hands on the secondary market, but no new ETF shares were created or redeemed on a net basis.
Wednesday’s figures left institutional crypto demand looking selective and restrained. Bitcoin continued to absorb the largest swings, ether managed to draw incremental capital, and the altcoin ETF market spent the session largely on the sidelines.
