Bitcoin ETFs experienced a net weekly outflow of $799 million, marking the fourth consecutive week of outflows. Ether ETFs also faced challenges, recording a net outflow of $120 million.
ETF Weekly Recap: Four Consecutive Weeks of Outflows for Bitcoin ETFs With Another $799M Exit
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Crypto ETFs Continue to Experience Significant Outflows
In the week spanning Mar. 3 to Mar. 7, bitcoin and ether ETFs experienced significant net outflows, reflecting a continuation of the cautious sentiment among investors. Bitcoin U.S. spot ETFs recorded a net outflow of $799.39 million, marking the fourth consecutive week of withdrawals.
The most substantial outflow occurred on Friday, Mar. 7, with $409.21 million exiting these funds. Leading the weekly outflows, Fidelity’s FBTC saw $200.97 million withdrawn, followed by BlackRock’s IBIT with $129.47 million, and Ark 21Shares’ ARKB with $163.54 million.
Grayscale’s GBTC and Valkyrie’s BRRR also experienced notable outflows, losing $125.36 million and $60.42 million, respectively. Other funds such as Franklin’s EZBC and Bitwise’s BITB recorded outflows of $53.75 million and $49.43 million, respectively.
In contrast, Grayscale’s BTC fund attracted a net weekly inflow of $35.77 million, standing out amid the broader trend of withdrawals.
Ether ETFs were not immune to the week’s downturn, experiencing a net outflow of $119.83 million. The largest single-day outflow occurred on Wednesday, Mar. 5, with $63.32 million exiting these funds.
BlackRock’s ETHA led the weekly outflows with $63.51 million, while Grayscale’s ETHE saw $52.61 million withdrawn. Conversely, Fidelity’s FETH and Grayscale’s ETH funds managed to buck the trend, recording inflows of $16.13 million and $8.46 million, respectively.
The sustained outflows from bitcoin and ether ETFs highlight a broader market apprehension. The fact that bitcoin ETFs have endured four consecutive weeks of outflows suggests an extremely cautious approach, with stakeholders potentially seeking safer investment avenues or awaiting more favorable market conditions.
