Spot Bitcoin ETFs See Massive Outflows While Ether ETFs Shows Positivity

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The U.S. market for spot Bitcoin exchange-traded funds (ETFs) experienced notable outflows on Tuesday, with a total of $148.5 million being withdrawn. This aligns with the ongoing volatility in the broader crypto market.

Data from SoSoValue reveals that Fidelity’s FBTC led the outflows among twelve Bitcoin funds, with a significant $64.48 million being pulled out. Grayscale’s GBTC, which was recently converted to an ETF, saw $32.18 million in outflows.

Other notable funds, including Ark Invest and 21Shares’ ARKB, reported net outflows of $28.88 million, while Franklin Templeton’s Bitcoin fund lost $23 million on the same day. Interestingly, BlackRock’s IBIT, which is the largest spot Bitcoin ETF by net asset value, reported zero flows, along with seven other funds.

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Large Activity Amid Bitcoin Price Recovery

Tuesday’s trading volume in spot Bitcoin ETFs amounted to a hefty $2.2 billion. Despite the recent outflows, the twelve funds launched in January have managed to accumulate a total net inflow of $17.19 billion.

Meanwhile, Bitcoin is trading around $57,000 on Wednesday and all eyes are on how these spot BTC ETFs will perform today. 

Ether ETFs Show Positive Inflows

In contrast to Bitcoin, spot Ethereum ETFs reported positive inflows on Tuesday, with a total daily net increase of $98.3 million.

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BlackRock’s ETHA led the pack with $109.89 million in inflows, followed by Fidelity’s FETH, which recorded $22.49 million. Grayscale’s mini trust and Franklin Templeton’s Ether fund saw smaller inflows of $4.7 million and under $1 million, respectively.

Tuesday’s trading volume for Ethereum ETFs totaled $330.13 million. However, since their listing on July 23, these funds have amassed net outflows of $363 million, indicating a challenging period for Ethereum investors.

New Filing for Options on Ether ETFs

Meanwhile, Nasdaq and BlackRock have recently submitted a filing to offer options on Ethereum ETFs with the Securities and Exchange Commission (SEC). Renowned ETF analyst James Seyffart predicted that the SEC is expected to make a final decision by April 9, 2025.

However, the SEC is not the only authority involved in this decision. Approval is also required from the Office of the Comptroller of the Currency (OCC) and the Commodity Futures Trading Commission (CFTC).

Despite the recent outflows, both Bitcoin and Ethereum showed signs of recovery from Monday’s global market downturn. Ethereum saw a 1% increase, climbing to $2,464 over the past 24 hours, according to CoinMarketCap.

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