Bitcoin ETFs experienced a substantial net outflow of $365 million, while ether ETFs saw a $13 million withdrawal, ending a four-day streak of inflows.
Major Outflows Hit Bitcoin Exchange-Traded Funds With $365 Million Exit; Ether ETFs End Four-Day Inflow Streak
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Crypto ETFs Face Setbacks With $365 Million and $13 Million Outflows
The notable capital movements on Thursday, Feb. 20 saw bitcoin exchange-traded funds (ETFs) face a significant net outflow of $364.93 million. Concurrently, ether ETFs, which had enjoyed 4 consecutive days of inflows, experienced a net outflow of $13 million, as recorded by Sosovalue.
Breaking down the bitcoin ETF outflows, Blackrock’s IBIT led the retreat with a substantial $112.05 million withdrawal. Ark and 21Shares’ ARKB followed closely, seeing an outflow of $98.35 million.
Fidelity’s FBTC wasn’t spared, recording an $88.24 million outflow. Grayscale’s BTC and GBTC products also faced outflows of $61.10 million and $33.52 million, respectively. A mild compensation came from Bitwise’s BITB and Vaneck’s HODL, which attracted modest inflows of $24.14 million and $4.18 million.
On the ether ETF front, the trend reversed after a period of positive momentum. Grayscale’s ETHE led the outflows, shedding $10.34 million. Fidelity’s FETH also saw a reduction with $2.75 million exiting the fund. Other ether ETFs remained neutral, with no significant inflows or outflows reported.
These movements suggest a cautious approach among investors with the pronounced outflows from prominent bitcoin ETFs highlighting a potential shift in sentiment, while the break of inflows into ether ETFs may indicate a pause in bullish enthusiasm.
