Bitcoin ETF snapshot: Outflows strike last week as BTC price uptrend stalls

The US spot bitcoin fund category has notched negative net flows over the course of a week just three times since coming to market in January

article-image

Maquette.pro/Shutterstock modified by Blockworks

share

US spot bitcoin ETFs saw net outflows last week, an occurrence seen just twice before over such a span since such funds launched three months ago.

The 11-fund category bled $83 million in assets from April 8 to April 12, according to BitMEX Research data — down from net inflows of $485 million the week prior.

Spot bitcoin ETFs have collectively welcomed $12.5 billion in positive flows to their coffers since Jan. 11. 

The Grayscale Bitcoin Trust ETF (GBTC) has been the only US BTC fund to see consistent outflows, watching $767 million leave last week, the data shows

Asset-gathering leaders — BlackRock’s iShares Bitcoin Trust (IBIT) and the Fidelity Wise Origin Bitcoin Fund (FBTC) — were not able to fully offset the GBTC negative net flows, reeling in $487 million and $90 million, respectively. 

Read more: BlackRock bitcoin fund accounts for 20% of the firm’s Q1 ETF net inflows  

The bitcoin fund segment saw just two weeks of net outflows prior to last week — losing $417 million in assets from Jan. 22 to Jan. 26 and hemorrhaging $888 million from March 18 to March 22. 

Net inflows in one week peaked at $2.5 billion for the category from March 11 to March 15.

The latest outflows came during a week in which bitcoin’s price fell roughly 5% to $65,650 by Friday. It dipped below $62,000 on Saturday.

Net money coming out of the US spot bitcoin ETFs signals “increased profit-taking and investor caution” following the strong uptrend over the last two quarters, Fineqia research analyst Matteo Greco wrote in a Monday research note. 

Trading volumes into the funds were about average last week, Greco noted, standing at about $3.2 billion per day.

Read more: Why BTC’s record monthly growth streak could be in jeopardy

James Butterfill, head of research at CoinShares, added in a Monday report that investors are seemingly hesitant since the positive price momentum has stalled. 

Bitcoin’s price hit an all-time high above $73,500 on March 14 and was above $72,000 as recently as April 8. The asset’s price hovered around $66,200 at 7:30 am ET on Monday, down about 4.5% from a week ago.

“ETP [and] ETF activity dropped relative to the overall market, from 40% of total volumes on trusted exchanges over the last month to 31% last week, demonstrating this caution amongst investors,” Butterfill wrote.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates.png

Research

Content Delivery Networks (CDNs) represent low-hanging fruit in a massive market ripe for Web3-driven disruption. The global CDN market was valued at ~$28B in 2024, and is projected to surpass $140B by 2034, (18.75% CAGR) underscoring the immense demand for efficient content delivery.

article-image

US dollars might technically be worth less, but it’s still good news

article-image

Apps are doing well, as is casino gaming, says Tom Schmidt of Dragonfly

article-image

Sponsored

Machine DeFi brings programmable peer-to-peer finance into contact with tangible machines that generate real-world value

article-image

What happens to your investment portfolio when the companies driving returns are no longer in it?

article-image

Wow, the ETF hype sure didn’t last long

article-image

The private sector lost 33,000 jobs in June; analysts had projected payrolls to add 100,000 positions