TLDR
- U.S. spot Bitcoin ETFs recorded a total net outflow of $545 million on Wednesday.
- The outflows pushed the weekly ETF flows into a net negative of $255 million.
- Year-to-date, Bitcoin ETFs have seen $3.5 billion in inflows but $5.4 billion in redemptions.
- Total assets under management for Bitcoin ETFs now stand at $93.5 billion.
- Bloomberg analysts noted that only about 6 percent of Bitcoin ETF assets have been withdrawn.
Bitcoin ETFs in the United States recorded net outflows totaling $545 million on Wednesday, reflecting increased pressure on the broader crypto market as Bitcoin hovered around the $70,000 level and the total market cap declined. Although Bitcoin ETFs have attracted billions since launch, redemptions outpaced inflows recently, turning yearly flows negative and trimming investor confidence across digital assets. According to SoSoValue, these latest figures pushed weekly ETF flows to a net loss of $255 million.
Bitcoin ETFs Post Heavy Redemptions Amid BTC Price Drop
U.S. spot Bitcoin ETFs saw $545 million in net outflows, their steepest single-day loss in recent months. The redemptions reversed earlier gains, pushing year-to-date net flows to negative $1.8 billion, despite $3.5 billion in inflows. Total assets under management now stand at $93.5 billion.
Bloomberg ETF analyst James Seyffart said the cumulative inflows still reflect relative strength compared to October highs. “That’s not too shabby considering these funds took in around $63 billion at their peak,” Seyffart posted on X. Despite current redemptions, total cumulative net inflows since launch are $54.8 billion.
Eric Balchunas, senior ETF analyst at Bloomberg, said investor retention remains high despite recent declines in BTC price. He estimated only around 6% of ETF-held Bitcoin assets have exited, suggesting many investors are holding long-term. He also pointed out that BlackRock’s iShares Bitcoin ETF assets fell from $100 billion to $60 billion.
Ether Funds Log $79 Million Outflow While XRP Gains
Spot Ethereum ETFs in the U.S. experienced $79.48 million in net outflows on Wednesday. The majority of the movement came from BlackRock and Fidelity products. BlackRock’s iShares Ethereum Trust saw $58.95 million leave, while Fidelity’s FETH lost $20.53 million.
Other spot Ether ETFs recorded no flows on the same day, according to SoSoValue. These outflows contributed to declining sentiment across altcoin ETFs. Ether’s performance closely tracked broader digital asset weakness in recent sessions.
Despite Ether outflows, XRP-focused ETFs posted modest inflows totaling $4.83 million. Franklin Templeton’s XRPZ fund received over half of that amount. The remaining inflows were spread across smaller XRP ETF products.
Solana ETFs Record $6.7 Million in Net Outflows
Solana ETFs also recorded net outflows of $6.7 million on Wednesday. These redemptions contributed to continued weakness across alternative crypto assets. SoSoValue data showed Solana was among the altcoins impacted by broader investor pullback.
While XRP gained some traction, Solana failed to attract inflows. The data pointed to ongoing volatility and investor hesitancy around certain altcoins. Total crypto market capitalization dropped from $3 trillion to $2.5 trillion year-to-date, according to CoinGecko.
As of the latest data, Bitcoin hovered near $70,000, with no signs of an immediate recovery. Cryptocurrency ETFs overall continued to feel liquidity pressure.
