U.S. Bitcoin ETFs Experience $438 Million Outflows as Bitcoin Drops Below $94,000, While Ethereum Funds See Modest Inflows

U.S. spot Bitcoin ETFs saw significant outflows on Monday, totaling $438 million, marking the end of a five-day period of inflows that had brought in nearly $3.4 billion. The outflows occurred after Bitcoin's price fell below $94,000, dipping from nearly $100,000 last week. By Monday, Bitcoin was trading at $94,515, down 3.55% in the last 24 hours.

Bitwise’s BITB saw the largest outflow, with over $280 million withdrawn, followed by Grayscale’s GBTC, which lost $158.2 million. Other funds that experienced redemptions included Fidelity’s FBTC, which lost $134.7 million, and ARKB, from Ark and 21Shares, which saw $110.9 million in outflows. Invesco, Valkyrie and VanEck also experienced negative flows. However, BlackRock’s IBIT, the largest spot Bitcoin ETF, had inflows of $267.8 million, accounting for most of the day’s positive activity. Grayscale’s Mini Bitcoin Trust also saw small inflows of $420,460.

In contrast, Ethereum ETFs experienced more modest activity, with $2.8 million in net inflows. Bitwise, Fidelity and VanEck saw positive flows, while 21Shares and two Grayscale ETFs experienced net outflows. Total trading volume for Ethereum ETFs reached $711.2 million on Monday—a notable increase from the $373.9 million seen on Friday. Meanwhile, total trading volume for Bitcoin ETFs stood at $5.6 billion, slightly higher than the previous day’s $5.4 billion.

Bitcoin’s price has been fluctuating, dipping below $92,000 and sparking concerns among investors. Around 461,000 BTC have been sold since its peak, contributing to the bearish sentiment in the market. Some technical analysts believe Bitcoin may find support at $85,000, though others predict the cryptocurrency might attempt another rally.

Despite Bitcoin’s declining price, interest in altcoins like Solana is on the rise. Solana recorded $16 million in inflows, suggesting that investor interest is diversifying. Ethereum ETFs have shown that investor sentiment is divided between the two leading cryptocurrencies, as their inflows remain modest.

The Bitcoin ETF market remains strong overall, with BlackRock’s IBIT continuing to perform well and showing significant institutional backing. MicroStrategy’s recent $5.4 billion purchase of 55,500 BTC demonstrates ongoing institutional interest in the space, further cementing the role of major players like BlackRock and MicroStrategy in driving the market’s performance.