Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds are currently going through enormous outflows.

This data discloses that the Bitcoin exchange-traded funds experienced a total loss of up to $145.58M. Particularly, iShares Bitcoin Trust ($IBIT) of BlackRock stood atop with the biggest outflow of nearly 576,038 BTC. Additionally, the crypto ETF did not record any inflows during the same time.

Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) are currently handling enormous outflows.

As per the data from Lookonchain, the cumulative outflows of Bitcoin ETFs reached 1,705 BTC while Ethereum ETFs saw 1,535 ETH in outflows, as of March 2. The on-chain analytics platform offered insights into the current outlook of the crypto ETF market in a recent X post.

Apr 2 Update:10 #Bitcoin ETFsNetFlow: -1,705 $BTC(-$145.58M)🔴#Fidelity outflows 1,045 $BTC($89.24M) and currently holds 195,888 $BTC($16.73B).

9 #Ethereum ETFsNetFlow: -1,535 $ETH(-$2.87M)🔴#Bitwise outflows 1,363 $ETH($2.55M) and currently holds 93,728 $ETH($175.46M). pic.twitter.com/0IZEdeDOIi

— Lookonchain (@lookonchain) April 2, 2023

The Bitcoin ETFs experienced a total loss of up to $145.58M. Among them, iShares Bitcoin Trust (IBIT) by BlackRock topped with the biggest outflow of nearly 576,038 BTC. It is worth noting that the crypto ETF did not record any inflows for the same period.

Nonetheless, Fidelity’s FBTC recorded a net outflow of almost $89.24M, which is 1,045 BTC. This decreased the ETF’s cumulative holdings to 195,888 BTC.

Simultaneously, ARK 21Shares Bitcoin ETF (ARKB) encountered a loss of nearly 1,027 BTC over the past 24 hours. Additionally, the ETF’s weekly outflows have reached the 1,431 BTC mark.

Despite the overall bearish trend, a few ETFs displayed slight inflows, including Bitwise Bitcoin ETF (BITB) and Franklin Bitcoin ETF (EZBC). Notably, BITB’s inflows amounted to 288 BTC while EZBC’s inflows accounted for 87 BTC, pushing cumulative holdings to 5,043 BTC.

On the other hand, the Ethereum (ETH) ETFs also displayed a similar outlook with a cumulative outflow of $2.87M.

Among them, Bitwise Ethereum ETF (ETHW) encountered the biggest single-day outflow. It lost 1,363 ETH, signifying a $2.55M decrease in value. This reduced its cumulative holdings to 93,728 ETH ($175.46M).

Along with this, the net outflow of Grayscale Ethereum Mini Trust (ETH) touched 2 ETH. Furthermore, its weekly outflows equal 3,310 ETH.

On the contrary, Fidelity Ethereum Fund (FETH) added up to 1,913 ETH over the recent seven days. Yet, during the past 24 hours, it lost 87 ETH.

These overwhelming outflows suggest the mounting selling pressure in the market. It also indicates a potential pullback from the institutional investors. This increasing trend of avoiding risk is impacting Ethereum ETFs more in comparison with Bitcoin ETFs. Nonetheless, it will be interesting to observe how these outflows will affect the price movements of BTC and ETH in the coming days.