Bitcoin ETFs Experience Significant Outflows, Ether Funds Report Losses

U.S. spot bitcoin ETFs experienced notable outflows on Thursday, totaling about $95 million, while ether funds saw a decline of approximately $52 million, marking the end of a five-day inflow period. Despite a general rally in cryptocurrency prices, institutional fund flows reflected significant losses in these asset classes.

Bitcoin and Ether Fund Outflows

According to data from SoSoValue, the primary contributor to the bitcoin ETF outflows was Fidelity’s FBTC, which lost roughly $63 million. ARKB followed closely, shedding about $40 million. In contrast, BlackRock’s IBIT remained stable, neither gaining nor losing funds, while VanEck’s HODL and Morgan Stanley’s MSBT were the only funds in the green.

The total assets held by bitcoin ETFs are now near $77 billion. On the ether side, Fidelity’s FETH lost about $34 million, and BlackRock’s ETHA saw a reduction of approximately $13 million. None of the ether funds recorded inflows, resulting in total net assets of around $9 billion.

Market Response and Performance

Following these events, bitcoin prices increased by 3.5% on Friday, approaching $64,000, representing a 4.2% rise over the week. This recovery corresponds with developments in broader markets, where renewed optimism in AI sectors contributed to a significant 4% surge in South Korea’s Kospi index.

Although bitcoin has fluctuated between $59,000 and $66,000 over the past month, institutional investments appear stagnant as they sit out this volatile phase of the market.