US Spot Bitcoin And Ethereum ETFs Suffer $750M Outflows
US spot Bitcoin and Ethereum ETFs (exchange-traded funds) saw more than $750 million in combined outflows on Monday.
That was after the crypto market experienced a flash crash on Friday that resulted in $19 billion in liquidations in just hours. That came after US President Donald Trump threatened to impose 100% tariffs on China in retaliation for Beijing’s new export restrictions on rare earth metals.
Most of the liquidations were trades for crypto market leaders BTC and ETH.
Bitcoin has slumped more than 9% in the past seven days while ETH has tumbled over 14%. Meanwhile, the Crypto Fear & Greed Index has plunged to a “fear” reading of 38 from a “Greed” level of 70 just a week ago.
Crypto Fear & Greed Index (Source: Alternative.me)
BlackRock’s IBIT Extends Inflows Streak As Bitcoin ETFs Bleed
According to data from Farside Investors, spot BTC ETFs saw $326.4 million leave their reserves collectively on Friday.
US spot BTC ETF flows (Source: Farside Investors)
The majority of those outflows was recorded by Grayscale’s GBTC product, with $145.4 million leaving the ETF. Bitwise’s BITB saw the second-biggest net daily outflows on the day, with investors pulling $115.6 million from the product.
Meanwhile, Fidelity’s FBTC, ARK Invest’s ARKB, and VanEck’s HODL saw respective outflows of $93.3 million, $21.2 million, and $11.4 million.
The only spot Bitcoin ETF to record daily inflows in the latest trading session was IBIT, the fund belonging to asset management giant BlackRock.
IBIT has dominated the US spot Bitcoin ETF market ever since the products were launched last year, and has pulled in $65.320 billion in cumulative inflows. The next-biggest BTC fund in this regard is Fidelity’s FBTC, which has seen $12.621 billion in cumulative inflows.
BlackRock’s IBIT continued its dominance yesterday with $60.4 million inflows, making it the only US spot Bitcoin ETF to record positive flows on the day.
Those latest inflows have also extended the fund’s positive flow streak to ten days. During this period, investors have pumped over $4.5 billion into IBIT.
Spot ETH ETFs Take A Bigger Hit
It was spot ETFs linked to altcoin leader ETH that took the biggest knock in the latest trading session, with their collective inflows soaring to $428.5 million.
BlackRock’s product saw the biggest outflows, with $310.1 million withdrawn from the fund.
Grayscale’s ETH was next with $49.7 million outflows. Similarly, respective outflows for Fidelity’s FETH, Bitwise’s BITW, VanEck’s ETHV, Franklin’s EZET and Grayscale’s ETHE were $19.1 million, $12.8 million, $9.3 million, $6.5 million, and $21 million.
The remaining funds, 21Shares’ TETH and Invesco’s QETH, recorded no new flows on the day.
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