Cryptocurrency ETFs slide like BitcoinEther posts heavy weekly losses
The last full trading week of March started with promise, but it didn’t end that way. What started as a brief rally in Bitcoin ETFs quickly gave way to sustained selling pressure, setting the tone for a week defined by caution, rotation and selective conviction.
Bitcoin spot ETFs saw net outflows of $296.18 million for the week, reversing recent momentum. The anticipated influx on Monday March 23, driven by strong allocations in Blackrock’s IBIT and Fidelity’s FBTC, proved short-lived. By midweek, the sentiment had changed.
IBIT emerged as the main driver of capital outflows overall, including a significant withdrawal of $201 million on Friday March 27 alone. Fidelity’s FBTC followed with consistent buybacks across multiple sessions, but it finished the week in the green with a weekly net flow of $46.88 million.
Despite FBTC’s positive net flow, Bitwise’s BITB and Ark & 21Shares’ ARKB saw notable weekly losses to add to the outflows. Grayscale’s GBTC continued its steady bleeding, while smaller products such as Bitcoin Mini Trust, Vaneck’s HODL, Franklin’s EZBC and Valkyrie’s BRRR saw mixed, mostly modest flows that did little to offset the broader trend.
Ether ETFs performed worse in terms of consistency and even breadth. The group recorded $206.58 million in net outflows, extending a near-unbroken streak of daily declines. Blackrock ETHA dominated the decline, including the multiple large buybacks that defined the week. Fidelity’s FETH, Grayscale’s ETHE and its Mini Trust, Bitwise’s ETHW, 21Shares’ TETH, Vaneck’s ETHV, and Invesco’s QETH all contributed to the negative flow.
However, one fund stands out. Blackrock’s ETHB continued to attract steady flows throughout the week, supported by its staking feature, as it closed the week with $141 million in admissions. That wasn’t enough to reverse the trend, but it indicated where investor interest is starting to focus.
In smaller segments, the divergence became clearer. Solana ETFs saw net outflows of $4.2 million, weighed down by weekend sales in Bitwise’s BSOL and earlier weakness in other funds such as Fidelity’s FSOL and Vaneck’s VSOL. XRP ETFs, on the other hand, saw net inflows of $2.66 million, driven primarily by Bitwise. XRP product, despite several sessions without trading activity.
In summary, the week was marked by a decisive change in tone. Bitcoin and ether ETFs faced sustained outflows after a brief early rebound, Solana slipped into slight losses, and XRP discreetly attracts capital. The market is not pulling back completely, but it is becoming much more deliberate.
FAQs 📊
- For what Bitcoin ETF record net outflows despite a good start to the week?
Early inflows were offset by heavy selling mid-to-late week, particularly from large funds like Blackrock’s IBIT and Fidelity’s FBTC. - Which Ether ETF had the biggest impact on weekly outflows?
Blackrock’s ETHA was the main driver of ether ETF outflows, with several large buybacks throughout the week. - Why is Blackrock’s ETHB attracting consistent flows?
The staking component of ETHB offers additional return potential, making it more attractive to investors compared to traditional Ether ETFs. - What explains XRPwhile others crypto ETFs have declined?
XRP ETFs saw targeted inflows, likely due to niche positioning or speculative interest, although broader market participation remained subdued.
