Bitcoin ETFs experienced a net outflow of $60.63 million, primarily due to significant withdrawals from Bitwise’s BITB and Fidelity’s FBTC. In contrast, Ether ETFs saw a modest net inflow of $4.60 million, solely attributed to Fidelity’s FETH.
Bitcoin ETFs Experience $61 Million Outflow Amid Mixed Fund Movements
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Ether ETFs See Modest $4.60 Million Inflow as Bitcoin ETFs Face Another Day of Withdrawals
In a day marked by contrasting movements, bitcoin exchange-traded funds (ETFs) faced a notable net outflow of $60.63 million, while ether ETFs managed to attract a modest inflow of $4.60 million.
Bitwise’s BITB led the bitcoin ETF outflows with a substantial $112.65 million withdrawal, accompanied by Fidelity’s FBTC, which saw an outflow of $16.42 million.
Conversely, Blackrock’s IBIT stood out by securing an inflow of $68.44 million, partially offsetting the overall negative trend. Other bitcoin funds remained neutral, reporting neither inflows nor outflows.
On the ether front, the trading action was quite muted. Fidelity’s FETH was the sole contributor to the day’s positive movement, recording an inflow of $4.60 million. All other ether ETFs reported neutral activity, with no significant capital movements.
The significant lack of volume in the market and current bearish sentiment continue to reflect in the daily trading pattern of bitcoin and ether ETFs. Since February, bitcoin ETFs have seen only 4 days of inflow as against 7 days of outflows.
Currently, net inflows for bitcoin ETFs in February stand at $644.58 million while net outflows for the same period stand at $1.09 billion.
