Bitcoin ETFs Witness $939 Million Outflow As Ether ETFs Lose $178 Million
During the week of March 10 to March 14, bitcoin and ether exchange-traded funds (ETFs) continued to experience notable net outflows, underscoring a highly negative investor sentiment.
Bitcoin ETFs recorded a net outflow of $938.8 million, marking the fifth consecutive week of outflows. The most substantial single-day outflow occurred on Tuesday, March 11, with $371 million exiting the funds.
Blackrock‘s IBIT experienced the highest outflow with $338.05 million leaving the fund. Fidelity’s FBTC saw a net weekly outflow of $316.62 million while Grayscale’s GBTC reported an $80.57 million outflow.
Ark 21shares faced a $68.50 million net outflow with Franklin Templeton‘s EZBC experiencing a $54.37 million outflow. Invesco’s BCTO had a $41.54 million net outflow, Wisdomtree’s BTCW recorded a $33.46 million outflow, Valkyrie’s BRRR saw an $11.61 million outflow, and Bitwise’s BITB rounded up the outflows with a $3.8 million net outflow.
On the flip side, Grayscale’s Mini Bitcoin Trust: and Vaneck’s HODL both stood out with a $5.51 million and $4.2 million net inflow, respectively.
Ether ETFs were not immune to the trend, experiencing a net weekly outflow of $178.43 million, marking the third consecutive week of outflows. The largest single-day outflow occurred on Thursday, Mar. 13, with $73.63 million exiting these funds.
Blackrock’s ETHA led the net weekly outflows with $63.30 million while Fidelity’s FETH reported a $49.66 million net outflow. Grayscale’s ETHE experienced a $46.54 million outflow and 21shares’ CETH had a $5.68 million outflow.
There were modest net weekly inflows on Grayscale’s Mini Ether Trust ($12.65 million) and Bitwise’s ETHW ($1.60 million) but it wasn’t enough to stem the outflow tide.
At the end of the trading week, bitcoin ETFs closed with total net assets at $93.25 billion while ether ETFs closed with total net assets at $6.72 billion.
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