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Bitcoin ETFs Face Prolonged Outflows Despite Spot Price Resilience

Bitcoin ETFs Face Prolonged Outflows Despite Spot Price Resilience
Bitcoin ETFs See Outflows Despite BTC Price Recovery

Institutional hesitance continues as inflows shrink and Ether ETFs stay in the red

In a week dominated by macroeconomic developments and continued crypto market volatility, U.S. spot Bitcoin ETFs have once again recorded significant net outflows, despite a temporary stabilization in Bitcoin’s spot price near $84,000.

According to data from SoSoValue and Coinglass, total net outflows from U.S. spot Bitcoin ETFs hit $171.10 million on April 17, 2025, following $169.87 million in withdrawals the day prior. This comes just days after a modest two-day streak of $77.42 million in net inflows, now reversed.

Leading the outflow trend were FBTC by Fidelity and ARKB by ARK Invest, each suffering more than $113 million in investor redemptions. In contrast, IBIT by BlackRock continued its trend of modest strength, topping the leaderboard with $30.60 million in new inflows.

Other ETFs that recorded smaller inflows included:

  • BITB by Bitwise: +$12.81M
  • BTCO by Invesco: +$6.74M
  • Bitcoin Mini Trust by Grayscale: +$3.36M
  • HODL by VanEck: +$2.38M
  • BRRR by Valkyrie: +$1.31M

However, these inflows were insufficient to offset the broader negative trend. The total trading volume across Bitcoin ETFs reached $1.83 billion, while total net assets declined slightly to $93.65 billion.

Ether ETFs in Reversal Mode

While Bitcoin ETFs grapple with volatile flows, Ether ETFs continue to struggle, marking their seventh consecutive day of net outflows, totaling $12 million.

The main culprits:

  • ETHE by Grayscale: –$8.20M
  • ETHA by BlackRock: –$4.27M
  • EZET by Franklin: –$1.78M

A slight $2.24 million inflow into Grayscale’s Ether Mini Trust offered minimal relief. Total traded volume in Ether ETFs stood at $392.98 million, with net assets now at $5.25 billion, suggesting sustained pressure on this segment.

Macroeconomic Backdrop: Retail Surge and Fed Expectations

Amidst the ETF turbulence, macroeconomic indicators offered mixed signals. The U.S. Census Bureau reported a 1.4% increase in March retail sales—the largest jump in over two years, surpassing expectations and boosting overall market sentiment.

Meanwhile, Asia-Pacific equity markets posted gains on Thursday, driven by optimism that the Federal Reserve might resume rate cuts in June. However, this optimism hasn’t yet translated into confidence in crypto markets, as investors remain cautious, awaiting clearer signals from the Fed and broader crypto price action.

Adding complexity to the picture, the 90-day suspension of reciprocal tariffs by former President Trump initially lifted Bitcoin prices from a dip back to around $80,000, yet institutional interest in ETFs has not returned in kind.

Outlook: Mounting Pressure Despite Bitcoin Resilience

April has so far seen over $800 million in net outflows from Bitcoin ETFs, following $767 million in March, marking a prolonged period of weakening institutional confidence. Despite price stability, ETF investors remain on edge, suggesting that spot price resilience alone is not enough to reverse the trend.

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