U.S. bitcoin and ether ETFs together post almost $1B outflows

U.S. spot bitcoin and ether exchange-traded funds saw net redemptions Wednesday, with bitcoin funds losing $708.7 million and ether products down $286.9 million, based on SoSoValue data. The bitcoin figure was the biggest single-day outflow in two months.

BlackRock’s iShares Bitcoin Trust (IBIT) accounted for $356.6 million of the bitcoin withdrawals, and Fidelity’s Wise Origin Bitcoin Fund (FBTC) had $287.7 million. In total, six bitcoin ETFs posted redemptions.

Ether ETFs recorded a combined $286.9 million in net outflows across five funds. BlackRock’s iShares Ethereum Trust (ETHA) led with $250.3 million in redemptions. Three other ether funds also reported net outflows, while Grayscale’s Ethereum Mini Trust drew $10 million in inflows. Daily flow data for 21Shares’ ether fund was not available.

Flows diverged in other categories. Spot XRP ETFs saw $7.16 million in net inflows Wednesday, and Solana funds added $2.92 million.

The shift in flows came as bitcoin briefly dipped toward $87,000 before rebounding to around $90,000 later in the session. Ether traded near $3,000. As we covered previously, risk appetite improved after signs President Donald Trump was backing away from escalating Greenland-linked tariff threats, and US stocks and major cryptocurrencies rebounded. 

The Crypto Fear & Greed Index read 20, categorized as Extreme Fear. Garrett Jin said the week’s weakness was tied more to a global bond sell-off than geopolitics and noted separate volatility in Japan’s bond market. Japanese institutions later announced stabilizing purchases, and US Treasury Secretary Scott Bessent met Japan’s finance minister.