Bitcoin ETFs See Continued Outflows Despite Price Recovery

Despite Bitcoin pushing past $80,00 in recent days, investors continue to pull money out of crypto-linked ETFs.

Investors pulled a staggering $149.66 million out of Bitcoin (BTC) exchange-traded funds (ETFs) on Monday alone, extending a streak of seven days and marking the largest daily withdrawal since January.

The pessimism in the world’s largest cryptocurrency persists despite Bitcoin pushing past the $83,000 mark for the first time since November 2022.

Bitcoin ETFs: Net Flows (USD)

As of April 11, Bitcoin spot ETFs recorded $1.02 million in net outflows, marking the seventh consecutive day of losses, according to figures from Farside.

Bank of New York Mellon's (NYSE:BNY Mellon) iShares Bitcoin Trust (NYSE:IBIT) stood out as the only gainer, registering $11.28 million in inflows. Meanwhile, Bitrex's Bitcoin Trust (NYSE:BITB) saw the largest withdrawal of the day, with $12.3 million being pulled out.

Major funds such as IBIT, FBTC, BTCO, BTCW, BRRR, EZBC, HODL, GBTC, DEFI, and BTC all posted no net activity.

On the other hand, Ethereum ETFs faced an even bigger hit, losing more than $29 million and extending their own losing streak to four days.

April Outflows Already Surpass All of March

Less than halfway through the month, Bitcoin ETF outflows have reached $813.89 million, already surpassing March's total.

The pessimism in the crypto market is evident, with investors pulling money out of crypto-linked ETFs despite the signs of short-term strength in the broader crypto market.

output: Despite Bitcoin (BTC) trading above the $83,000 mark for the first time since November 2022, investors continue to pull money out of crypto-linked ETFs.

The latest figures from crypto data provider Farside show that Bitcoin spot ETFs recorded $1.02 million in net outflows on Tuesday, extending a seven-day losing streak.

The pessimism in the world’s largest cryptocurrency persists despite the signs of short-term strength in the broader crypto market.

Bank of New York Mellon's (NYSE:BNY Mellon) iShares Bitcoin Trust (NYSE:IBIT) was the only ETF to register inflows, reporting $11.28 million. On the other hand, Bitrex's Bitcoin Trust (NYSE:BITB) saw the largest withdrawal of the day, with $12.3 million being pulled out.

Major funds such as IBIT, FBTC, BTCO, BTCW, BRRR, EZBC, HODL, GBTC, DEFI, and BTC all posted no net activity.

Meanwhile, Ethereum ETFs faced an even bigger hit, losing more than $29 million and extending their own losing streak to four days.

April saw a staggering $149.66 million pulled out of ETFs by 4 pm ET (20:00 GMT), capping off six days of steady withdrawals. This trend underscores a growing investor hesitancy, even as spot prices edge higher.

As of April 10, Bitcoin ETFs had seen outflows of $764.23 million so far this year, while Ethereum ETFs had seen inflows of $686.84 million.

The pessimism in the crypto market is evident, with investors pulling money out of crypto-linked ETFs despite the signs of short-term strength in the broader crypto market.

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