Bitcoin exchange-traded funds (ETFs) are being dumped by investors, JPMorgan finds

Investors have been dumping Bitcoin exchange-traded funds. On Monday, JPMorgan found that Fidelity and BlackRock led the Bitcoin ETF investor exodus, which totalled some $430 million.

Investors have been pulling money out of Bitcoin exchange-traded funds at a rapid pace, with new data from JPMorgan suggesting that the trend might be slowing down.

On Monday, the bank found that Fidelity and BlackRock led the Bitcoin ETF investor exodus, which totalled some $430 million. A day later, they dumped an additional $399 million, the bank said in a separate note.

The two-day outflow total has mounted to more than $829 million.

But there are signs of reprieve. Bitcoin snapped its five-day losing streak, gaining 0.5% over the past 24 hours to about $83,000.

JPMorgan said that’s a sign pessimism is easing.

The price sank to a 2025 low of about 77,000 on March 11 as worries spread about US President Donald Trump’s on-and-off tariffs and about the broader US economy.

Where the price goes from here is still up in the air. Some pundits see the price falling much further, to as low as $74,000.

Investor uncertainty has clobbered crypto — and the broader stock market. Fears of a US recession have also spurred selling.

It’s not just Bitcoin that is bouncing back. XRP saw a more than 3% gain over the last 24 hours to $2.26, while Solana gained to $127 over the same period.

Every single Bitcoin ETF provider registered negative flows on Tuesday.

BlackRock ETFs hemorrhaged $151 million on Tuesday, after losing $90 million the day prior. Fidelity’s FBTC lost $107 million on Tuesday, after a $135 million outflow the day prior.

Smaller players also saw outflows. Valkyrie BRRR investors sold $32 million, while Franklin Templeton saw an exodus of $34 million.

On Friday, Trump met with industry hotshots at the White House for the first-ever crypto summit.

Players like Michael Saylor and Ripple’s Brad Garlinghouse discussed adding digital currencies as key strategic reserve assets for the US.

Crypto market movers

What we’re reading: Trump administration officials are reportedly planning to propose a new regulatory framework for cryptocurrencies, with a focus on stablecoins and anti-money laundering measures. The proposals, which are still in the early stages, could be announced as early as April, according to a report by The Block. The administration officials are also discussing the possibility of creating a new federal cryptocurrency task force to coordinate efforts across different agencies. The report notes that the proposals are part of a broader effort by the Trump administration to promote innovation in the financial sector and to maintain the US dollar's reserve currency status. The administration officials are aware that any new regulations would need to be approved by Congress.

The report comes amid increasing interest in cryptocurrencies from both government and industry officials. In February, the Department of the Treasury released a report on the potential risks and benefits of stablecoins, which are cryptocurrencies pegged to the value of a fiat currency. The report concluded that stablecoins could pose risks to the financial system if they are not regulated appropriately.

Industry officials have also been calling for clear regulations to promote innovation in the crypto sector. At a recent House hearing, lawmakers from both parties expressed concern about the need to balance consumer protection with fostering technological advancement.

The Trump administration’s proposals are still tentative and could change significantly. However, the report suggests that the administration is serious about addressing the regulatory challenges posed by cryptocurrencies.

In other news, the price of Bitcoin fell sharply on Monday, hitting a low of about 77,000 during the Asian session. The decline extended Bitcoin’s recent losing streak to five days, wiping out nearly $1,000 from recent highs. The cryptocurrency had been trading in a limited range of 79,000 to 80,000 for the past few days, and the technical indicator Relative Strength Index (RSI) on the 4-hour chart had fallen below 40, indicating that the cryptocurrency was oversold.

Bitcoin was last trading at around 82,940, down 0.4% for the 24 hours to 08:18 ET (12:18 GMT). It had fallen as low as 77,000 earlier in the session.

The cryptocurrency had been on a tear in recent months, rising sharply from lows of around 36,000 seen in December 2023. The cryptocurrency hit a 2023 high of 83,750 last week.

The cryptocurrency is now trading at a crucial support level of 79,000, and a break below this level could open the door for further declines in the