On Wednesday, Nasdaq-listed spot Bitcoin exchange-traded funds (ETFs) registered $164 million in redemptions, ending a seven-day streak of consecutive inflows amid a price correction.
$164 Million Flees Bitcoin ETFs
According to data published by investment firm Farside, investors pulled $163.5 million from the 11 BTC funds. The Fidelity Wise Origin Bitcoin Fund (FBTC) topped the outflows, shedding $103.8 million— marking its second-largest single-day withdrawal of the month.
BlackRock’s iShares Bitcoin Trust ETF (IBIT) also experienced outflows, totaling $34 million. This marked IBIT’s first net withdrawal in roughly eight days. The fund had attracted over $900 million in inflows during the previous seven sessions through Tuesday, including $169.3 million on March 17 alone.
Grayscale’s GBTC experienced $18.8 million in withdrawals, while Bitwise’s BITB saw a $7 million net outflow. The remaining funds reported no significant changes.
The spot Bitcoin ETFs launched in the U.S. in January 2024, giving investors direct exposure to the benchmark cryptocurrency without the challenges of holding or storing it. Unlike futures-based ETFs, which debuted in October 2021 and require position rollovers, these funds invest directly in Bitcoin, simplifying the investment process.



 Following a strong rally earlier this week, Bitcoin has retreated below $70,000, dropping 4.1% in the past 24 hours from its March 5 peak of $72,993, according to CoinGecko data. The world’s biggest crypto by market value was trading at $69,311 as of press time.
Altcoin ETFs Post Minor Outflows
Altcoin ETFs have also fallen out of institutional investors’ favor, as Ether-focused funds experienced $55.7 million in withdrawals.
Mirroring the trend in Bitcoin ETFs, Fidelity Investments topped the altcoin outflows, with the Fidelity Ethereum Fund (FETH) losing $37 million, while the Grayscale Ethereum Trust (ETHE) recorded $9 million in withdrawals.
Ether also fell 4.3% over the same period, slipping to $2,107, according to CoinGecko. The second-largest crypto is down over 57.2% from its August last year highs above $4,946.
Meanwhile, Solana (SOL) experienced modest outflows of roughly $300,000, while XRP (XRP) ETFs witnessed no fresh inflows.
Investor sentiment has also weakened amid the market drawdown, with the Crypto Fear & Greed Index briefly climbing to 26, indicating “Fear” on Wednesday, before crashing back into “Extreme Fear” today.
