Bitcoin ETFs saw a net outflow of $143 million on Thursday, March 13, resuming their downward trend, while ether ETFs continued their decline with a $74 million outflow, marking seven consecutive days of losses.
Bitcoin ETFs Experience $143 Million Outflow, Ether ETFs Mark Seven-Day Decline
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More Outflows as Crypto ETFs Face Continued Withdrawals
After a brief respite, bitcoin exchange-traded funds (ETFs) resumed their outflow trend, with $143.30 million exiting on Thursday, Mar. 13. Simultaneously, ether ETFs extended their losing streak to seven consecutive days, shedding an additional $73.63 million.
Fidelity’s FBTC led the downturn, witnessing a substantial outflow of $75.48 million. Ark 21Shares’ ARKB wasn’t far behind, experiencing a $60.23 million exit. Wisdomtree’s BTCW saw $14.51 million depart, while Grayscale’s GBTC and Bitwise’s BITB recorded outflows of $12.68 million and $10.95 million, respectively.
Valkyrie’s BRRR and Franklin’s EZBC weren’t spared either, with outflows of $8.20 million and $6.99 million. In contrast, Blackrock’s IBIT managed to attract an inflow of $45.75 million, offering a glimmer of positivity amidst the prevailing downturn.
These movements culminated in a net outflow of $143.30 million for bitcoin ETFs, reducing their total net assets to $89.60 billion, a significant drop from the previous day’s $92.45 billion.
Ether ETFs weren’t immune to the market’s bearish sentiment. Grayscale’s ETHE bore the brunt, with a $41.70 million outflow. Blackrock’s ETHA followed, losing $15.11 million. Fidelity’s FETH and Grayscale’s ETH also faced outflows of $12.48 million and $5.23 million, respectively.
These consistent outflows have further diminished the total net assets for ether ETFs, now standing at $6.49 billion, a $170 million decline from the previous day’s $6.66 billion.
The persistent outflows from both bitcoin and ether ETFs reflect a cautious investor sentiment. While Blackrock’s IBIT inflow is a positive sign, the overarching trend underscores the negative investor response to current market dynamics.
