Bitcoin ETFs Experience $291 Million in Outflows Amid BTC Surge Past $75,000
Bitcoin ETFs News: Spot Bitcoin ETFs Post $291 Million in Outflows -- Biggest Since March 27 -- as Bitcoin (BTC) Crosses $75,000
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US spot Bitcoin exchange-traded funds (ETFs) faced $291 million in outflows on Monday, marking the largest single-day redemption since March 27. Despite this, Bitcoin (BTC) surged approximately 5% to surpass $75,000. The outflows have pushed year-to-date net flows into negative territory, totaling around $160 million.
- 01Spot Bitcoin ETFs recorded $291 million in outflows, the largest since March 27.
- 02Fidelity's Wise Origin Bitcoin Fund was the main contributor to the outflows, accounting for $229 million.
- 03BlackRock's Bitcoin Trust saw inflows of $35 million, extending its streak to four days.
- 04Morgan Stanley's Bitcoin Trust ETF attracted approximately $68 million since its launch.
- 05The Crypto Fear & Greed Index remains at 21, indicating 'extreme fear' among investors.
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On Monday, US spot Bitcoin ETFs experienced $291 million in net outflows, the highest single-day redemption since March 27, despite Bitcoin (BTC) rising about 5% to cross $75,000. According to SoSoValue data, Fidelity's Wise Origin Bitcoin Fund (FBTC) was the primary driver of these outflows, contributing $229 million to the total. In contrast, BlackRock's iShares Bitcoin Trust recorded inflows of approximately $35 million, extending its inflow streak to four consecutive days, totaling $482 million during this period. The Morgan Stanley Bitcoin Trust ETF (MSBT), launched on April 8, has also seen strong performance, attracting around $68 million in its initial trading sessions. However, the recent outflows have pushed year-to-date net flows for spot Bitcoin ETFs back into negative territory, now totaling about $160 million. Meanwhile, altcoin ETFs showed resilience, with Ethereum funds adding $9.4 million in inflows. The Crypto Fear & Greed Index, while improving slightly to 21, remains in the 'extreme fear' category, indicating cautious sentiment among investors.
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The significant outflows from Bitcoin ETFs may indicate investor caution, which could affect market liquidity and future price movements of Bitcoin and other cryptocurrencies.
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