Sustained Withdrawals See More Losses for Bitcoin and Ether ETFs

Crypto exchange-traded funds (ETFs) continue to face significant challenges as both bitcoin and ether ETFs experience persistent outflows. Bitcoin ETFs have now endured an eight-day streak of withdrawals, with $275.83 million in net outflows on Thursday, Feb. 27, while ether ETFs saw $71.08 million in net outflows on the same day, extending the outflow streak to 6 days.

Leading the bitcoin ETF outflows was Blackrock’s IBIT, which reported a substantial withdrawal of $189.02 million. Wisdomtree’s BTWC followed with an outflow of $53.78 million.

Other notable outflows include Valkyrie’s BRRR at $12.82 million, Vaneck’s HODL at $10.58 million, and Grayscale’s GBTC at $7.26 million. Fidelity’s FBTC and Franklin’s EZBC each saw outflows of approximately $7.25 million each, while Grayscale’s BTC experienced a $5.54 million withdrawal.

In contrast, Bitwise’s BITB stood out as the sole fund to record inflows, attracting $17.65 million.

Ether ETFs also faced significant outflows, with Blackrock’s ETHA leading the pack at $26.06 million in withdrawals. Fidelity’s FETH reported an outflow of $25.45 million, and Grayscale’s ETHE saw $19.57 million in redemptions.

These consecutive outflows have led to a decline in the total net assets of both bitcoin and ether ETFs. Bitcoin ETFs’ total net assets have decreased to $94.3 billion, while ether ETFs now stand at $8.27 billion.

Over the 8 days of consecutive outflows, bitcoin ETFs have experienced outflows totaling $3.27 billion. Over the six-day outflow period, ether ETFs have recorded outflows worth $315.53 million.

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