Spot Bitcoin ETFs Lose $253M as BTC Dips Under $109K
US spot Bitcoin ETFs suffered a $253.4 million net outflow on Thursday, pushing weekly redemptions to $480 million as Bitcoin (BTC) slid below $109,000, a four-week low. Major funds including Fidelity’s FBTC, Bitwise’s BITB, ARK 21Shares ARKB, Franklin, VanEck and Grayscale’s GBTC saw significant withdrawals. In contrast, BlackRock’s IBIT attracted $78 million, marking its third consecutive week of inflows. Parallel to this trend, spot Ethereum ETFs recorded $251 million in outflows Thursday, taking weekly losses to $547 million amid a double-digit ETH price correction. The US Securities and Exchange Commission (SEC) met with VanEck to discuss ETF tokenization and issuer roles, a step that could benefit Ethereum-based products. This week also saw the launch of REX-Osprey’s Ether Staking ETF, Bitwise’s filing for a Hyperliquid (HYPE) ETF, approval of Hashdex’s Nasdaq Crypto Index US ETF and BlackRock’s registration of the iShares Bitcoin Premium ETF, a covered-call strategy designed to generate yield on BTC. Traders should monitor weekly ETF flow trends, macroeconomic indicators and individual fund dynamics for market sentiment clues. Large daily outflows may signal near-term selling pressure, but sustained demand for products like IBIT suggests continued institutional appetite for regulated Bitcoin exposure.
Bearish
Significant outflows from US spot Bitcoin ETFs and Ethereum ETFs, coupled with BTC dipping below $109K and a double-digit ETH correction, indicate near-term selling pressure and weakened institutional sentiment. Major fund redemptions suggest profit-taking and a bearish momentum. However, sustained inflows into BlackRock’s IBIT and ongoing ETF innovations point to enduring long-term demand for regulated crypto exposure. Traders should weigh the current bearish trend against underlying institutional interest when adjusting positions.