Institutional investors pulled more than $900 million from U.S. Bitcoin spot ETFs last week, extending a withdrawal streak that has now reached five consecutive weeks amid weakening market confidence.
The $921.4 million outflow marks the latest chapter in a dramatic reversal for crypto investment products that began the year with strong momentum. According to data from Farside Investors, these continued redemptions have culminated in approximately $5.4 billion in total withdrawals over the five-week period.
BlackRock's IBIT fund experienced the heaviest exodus, with investors withdrawing $338.1 million during the trading window. Fidelity's FBTC wasn't far behind, recording net outflows of $307.4 million.
Several other Bitcoin ETFs reported moderate withdrawals between $33 million and $81 million, including Ark's ARKB, Invesco's BTCO, Franklin Templeton's EZBC, WisdomTree's BTCW, and Grayscale's GBTC. Bitwise's BITB, Valkyrie's BRRR, and VanEck's HODL each showed minor outflows not exceeding $4 million.
"The consistently high levels of withdrawals from the Bitcoin ETFs can be associated with the recent BTC market price correction," noted market analysts tracking the funds. Grayscale's BTC emerged as the sole fund bucking the trend, attracting modest net inflows of $5.5 million.
Over the past month, Bitcoin has experienced a price decline of 11.95%, reaching lows of $77,000. This volatility appears to have spooked institutional investors, as total net assets across Bitcoin Spot ETFs have decreased by 21.70% to $89.89 billion, according to data from SoSoValue.
The Ethereum ETF market shows similar signs of investor retreat, with net outflows reaching $189.9 million last week. This marks the third consecutive week of withdrawals for Ethereum products, bringing total outflows to $645.08 million during this period.
BlackRock's Ethereum fund ETHA led these withdrawals with $63.3 million pulled from the product. Despite the recent exodus, total cumulative inflows into the Ethereum ETF market still stand at $2.52 billion, with total net assets of $6.72 billion—representing approximately 2.90% of Ethereum's market capitalization.
Meanwhile, cryptocurrency prices have shown mixed performance. Ethereum currently trades at $1,924, reflecting a modest 0.73% gain over the past 24 hours, while Bitcoin holds at $84,009 with minimal daily price movement.
The continued outflows present a stark contrast to the enthusiastic reception these products received earlier in the year, when Bitcoin ETFs attracted over $5 billion in investments shortly after their launch.