Bitcoin and Ethereum ETFs Suffer Heavy Outflows

Investors in the US have pulled a substantial amount of money from spot Bitcoin ETFs over the past week. According to data provided by SoSoValue, between March 23 and March 27, the sector recorded investment outflows totaling $296.18 million.

The breakdown of the negative capital flows shows that six funds were affected: IBIT, BITB, GBTC, ARKB, HODL, and BTC. Among these, IBIT was hit the hardest with an outflow of $158.07 million. On the other hand, five ETFs saw no new assets under management during this period, while FBTC recorded inflows of $46.88 million.

The Ethereum-based exchange-traded funds also experienced significant losses, losing a total of $206.58 million over the same period. Five funds were affected: ETHA by BlackRock, ETH by Grayscale, FETH by Fidelity, ETHE by Grayscale, and ETHW by Bitwise. In contrast, investors showed no interest in allocating funds to ETHV, QETH, and EZET.

However, it's worth noting that some altcoin-based exchange-traded funds attracted inflows last week. For instance, XRP-ETF saw an influx of 2.66 million, while LINK-ETF recorded an investment of $0.7 million. Other altcoins like DOGE-, HBAR-, AVAX-, Litecoin-, and DOT-ETFs did not receive any new investments.