On March 5, Bitcoin ETFs experienced net outflows of $38 million, with Valkyrie’s BRRR leading the withdrawals. Ether ETFs faced even larger outflows, totaling $63 million, primarily due to significant withdrawals from Grayscale’s ETHE.
Bitcoin ETFs Witness $38 Million Outflow as Grayscale Withdrawals Hit Ether ETFs Hard
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Midweek Outflows: Crypto ETFs Experience Significant Withdrawals
In a week marked by significant market fluctuations, bitcoin and ether exchange-traded funds (ETFs) experienced notable outflows on Wednesday, Mar. 5, according to data from Sosovalue. Bitcoin ETFs saw net outflows totaling $38.30 million, while ether ETFs faced more substantial net outflows of $63.32 million.
Among bitcoin ETFs, Valkyrie’s BRRR led the outflows with $60.42 million withdrawn. Invesco’s BTCO and Bitwise’s BITB also reported outflows of $9.94 million and $6.87 million, respectively. Conversely, Blackrock’s IBIT brought in some positive momentum, attracting an inflow of $38.93 million. However, this was insufficient to offset the overall outflows in the bitcoin ETF market.
The ether ETF market was particularly impacted by Grayscale’s ETHE, which alone recorded an outflow of $63.32 million, accounting for the entirety of the day’s net outflows in this segment.
Despite these outflows, total net assets for bitcoin ETFs edged back above the $100 billion mark, standing at $102.12 billion by the end of the trading day. Ether ETFs also slightly increased, with total net assets reaching $8.05 billion.
These movements reflect ongoing investor caution amid broader market volatility and economic uncertainties, leading to fluctuating capital flows in crypto ETFs.
