Bitcoin ETFs recorded a net outflow of $143 million on Thursday, March 13, continuing their downward trend, while Ether ETFs continued their decline with an outflow of $74 million, marking seven consecutive days of losses.
Further Outflows as Crypto ETFs Continue to Record Redemptions
After a brief respite, Bitcoin exchange-traded funds (ETFs) continued their outflow trend, withdrawing $143.30 million on Thursday, March 13. Meanwhile, Ether ETFs extended their losing streak to seven consecutive days, recording an additional outflow of $73.63 million.
Fidelity’s FBTC led the decline, recording a significant outflow of $75.48 million. Ark 21Shares’ ARKB was not far behind, experiencing an outflow of $60.23 million. Wisdomtree’s BTCW saw $14.51 million migrate, while Grayscale’s GBTC and Bitwise’s BITB recorded outflows of $12.68 million and $10.95 million, respectively.
Valkyrie’s BRRR and Franklin’s EZBC were also not spared, recording outflows of $8.20 million and $6.99 million, respectively. In contrast, BlackRock’s IBIT saw an inflow of $45.75 million, offering a glimmer of positivity amid the prevailing downturn.
These movements resulted in a net outflow of $143.30 million for Bitcoin ETFs, reducing their total net assets to $89.60 billion, a significant decrease from the previous day’s $92.45 billion.
Ether ETFs were not unaffected by the negative market sentiment. Grayscale’s ETHE suffered the largest loss with an outflow of $41.70 million. Blackrock’s ETHA followed with a loss of $15.11 million. Fidelity’s FETH and Grayscale’s ETH also saw outflows of $12.48 million and $5.23 million, respectively.
These constant outflows further reduced the total net assets of Ether ETFs, which now stand at $6.49 billion, a decrease of $170 million from the previous day’s $6.66 billion.
The continued outflows from both Bitcoin and Ether ETFs reflect cautious investor confidence. While the inflow from BlackRock‘s IBIT is a positive sign, the overall trend underscores the negative investor reaction to current market dynamics.
Image by Borko Manigoda from Pixabay
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