Bitcoin ETFs Lose $159M as Ethereum, SOL Follow With Outflows

Key Insights

• Bitcoin ETFs recorded a total net outflow of $159.05 million on April 7.
• Ethereum ETFs posted a net outflow of $64.67 million on the same day.
• SOL ETFs saw $15.40 million in outflows while XRP ETFs drew $3.32 million in inflows.

Bitcoin ETFs closed April 7 with a collective net outflow of $159.05 million, according to data from SoSoValue.

The session was notably negative for crypto investment products, with Ethereum and SOL funds also posting outflows. XRP ETFs were the exception, recording a modest net inflow on the day.

The outflows across Bitcoin ETFs brought total net assets for the category to $88.71 billion. The cumulative total net inflow across all products held at $56.27 billion.

Bitcoin ETFs Record Broad Outflows Across Major Funds

Several major funds contributed to the daily total. Fidelity’s FBTC (CBOE: FBTC) posted the largest single-fund outflow at $47.85 million.

Grayscale’s GBTC (NYSE: GBTC) followed with $41.89 million in net outflows, while Ark & 21Shares’ ARKB (CBOE: ARKB) shed $34.15 million.

VanEck’s HODL (CBOE: HODL) saw $20.37 million in outflows, and BlackRock’s IBIT (NASDAQ: IBIT) recorded a net outflow of $17.11 million.

The remaining funds — Grayscale’s BTC (NYSE: BTC), Bitwise’s BITB (NYSE: BITB), Invesco’s BTCO (CBOE: BTCO), Franklin’s EZBC (CBOE: EZBC), WisdomTree’s BTCW (CBOE: BTCW), and Hashdex’s DEFI (NYSE: DEFI) — recorded no flows for the day.

Valkyrie’s BRRR (NASDAQ: BRRR) was the only fund to post a positive result, attracting $2.32 million in net inflows.

BlackRock’s IBIT maintained the highest cumulative total net inflow across all Bitcoin ETFs at $63.28 billion, with Fidelity’s FBTC holding second place at $11.06 billion.

Weekly View Offers Contrast to April 7 Session

The April 7 session was a reversal from the prior trading day. Bitcoin ETFs had attracted $471.32 million in net inflows on April 6, one of the stronger single-day totals in recent weeks. The swing to outflows on April 7 brought the weekly net inflow to $312.27 million.

Total value traded for the week ending April 7 came in at $4.09 billion, compared to $9.58 billion for the week ending April 2.

The week of March 13 recorded the highest recent weekly inflow at $767.33 million, while the week ending March 27 posted net outflows of $296.18 million.

Total net assets across all Bitcoin ETFs reached $88.71 billion as of April 7, down from $90.26 billion on April 6.

Ethereum ETFs Post $64.67M in Daily Outflows

Ethereum ETFs recorded a total net outflow of $64.67 million on April 7. Total net assets for Ethereum ETFs stood at $11.98 billion, with cumulative net inflows of $11.54 billion. Daily trading volume came in at $1.03 billion.

The daily outflow followed a session on April 6 when Ethereum ETFs attracted $120.24 million in net inflows.

Earlier in the week, on April 2, outflows totaled $71.17 million, and on April 1, $7.10 million.

On a weekly basis, Ethereum ETFs recorded a net inflow of $55.57 million for the week ending April 7. Total value traded for the week reached $2.01 billion, with net assets at $11.98 billion.

The prior week ending April 2 saw net outflows of $42.15 million, while the week of March 27 saw the steepest recent weekly outflow at $206.58 million.

SOL and XRP ETFs Show Different Trends

SOL ETFs recorded a single-day net outflow of $15.40 million on April 7. XRP ETFs moved in the opposite direction, posting a net inflow of $3.32 million for the same session.

The divergence was visible on a day when most crypto investment products were under selling pressure.

While SOL and Ethereum joined Bitcoin in the red, XRP attracted fresh capital, standing as the only major asset class among the four to post positive daily flows.

Across the week, Bitcoin ETFs led with $312.27 million in net inflows, while Ethereum ETFs posted $55.57 million. XRP’s daily inflow of $3.32 million positioned it as a quieter mover.

The post Bitcoin ETFs Lose $159M as Ethereum, SOL Follow With Outflows appeared first on The Market Periodical.