Ethereum and Bitcoin ETFs bleed $1.7B as investor nerves kick in – Why now?

Key Takeaways

Which Bitcoin ETFs saw the biggest withdrawals?

Fidelity’s FBTC led with $330.4 million in outflows, followed by Ark 21Shares’ ARKB. Even BlackRock’s IBIT, a usually strong performer, wasn’t spared, shedding $37.3 million.

How did Ethereum ETFs perform?

They faced $795.6M redemptions. Fidelity’s FETH led with $362M outflows, while BlackRock’s ETHA saw $199.9M. Only ETHE and TETH gained.

After weeks of strong momentum in the ETF market, the tide has turned.

Spot Bitcoin [BTC] and Ethereum [ETH] exchange-traded funds (ETFs) in the U.S. saw a sharp reversal last week, recording over $1.7 billion in combined outflows.

The exodus came as both cryptocurrencies faced heightened volatility, with Bitcoin and Ethereum each sliding more than 8% over the same period.

Bitcoin ETF update

According to data from Farside Investors, U.S.-listed Spot Bitcoin ETFs logged net withdrawals of $903 million last week. This ended a month-long streak of inflows that had signaled rising institutional confidence.

On the 26th of September, Fidelity’s FBTC led the exodus with $330.4 million in redemptions, followed by Ark 21Shares’ ARKB and other funds.

BlackRock’s flagship IBIT, typically regarded as one of the strongest performers, also saw outflows worth $37.3 million, while Bitwise’s BITB shed $23.8 million.

Several other funds reported smaller redemptions, while a few remained flat with no notable flows.