Bitcoin exchange-traded funds (ETFs) saw their three-day inflow streak broken with $86 million in net outflows, primarily due to a sharp drawdown from Grayscale’s GBTC. Ether ETFs also took a hit, recording an $18 million exit, entirely from Fidelity’s FETH.
Crypto ETFs Slip With $86 Million Outflow for Bitcoin and $18 Million for Ether
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GBTC and FETH Lead the Exit for Bitcoin and Ether ETFs
The tide briefly turned on Tuesday, May 7, as both bitcoin and ether ETFs logged net outflows, ending a solid start to the week. After 3 days of positive momentum, bitcoin ETFs saw $85.64 million pulled from the market, bringing a pause to their recent inflow streak.
Grayscale’s GBTC led the retreat, posting a hefty $89.92 million outflow, followed by Ark 21Shares’ ARKB with $16.12 million. Franklin’s EZBC and Vaneck’s HODL each saw modest exits of $8.26 million and $8.06 million, respectively. The lone bright spot? Blackrock’s IBIT, which continued to attract capital, pulling in $36.73 million.
Total value traded across bitcoin ETFs came to $1.46 billion, and net assets ended the day at $111.15 billion.
The ether ETF market wasn’t spared either. Fidelity’s FETH was the sole mover, logging a $17.87 million outflow while the rest of the funds sat idle. With total ether ETF volume at $135.25 million, net assets ticked down slightly to $6.18 billion.
A quieter day for crypto ETFs, but one that reminds investors: the flows don’t always go one way.
