The crypto ETF sector is reportedly going through a turbulent phase. As per the data from Lookonchain, Bitcoin ($BTC) and Ethereum ($ETH) ETFs have witnessed substantial outflows on the 17th of April, highlighting a decrease in investor interest. The on-chain analytics platform shared the detailed grim outlook of the ETF market in a recent X post.
Bitcoin ETFs See 2,050 $BTC in Outflows
According to Lookonchain, Bitcoin exchange-traded funds have recorded a cumulative outflow of nearly 2,050 $BTC. This figure accounts for up to $172.33M in total. With this, the weekly flow of these ETFs has turned negative at 3,997 $BTC, equaling almost $336.05M. Irrespective of the outflows, the cumulative $BTC holdings throughout ten big exchange-traded funds are still massive at 1,111,163 $BTC. This denotes a total value of $93.42B.
$FBTC Sees Biggest Outflow of $1,353 $BTC among Bitcoin ETFs
The biggest single-day outflow was seen by Fidelity’s $FBTC at 1,353 $BTC (equaling $113.75M). At present, it possesses 194,273 $BTC with a value of $16.33B. Likewise, ARK 21Shares Bitcoin ETF ($ARKB) saw 1,347 $BTC in outflows. However, in an optimistic development, BlackRock’s iShares Bitcoin Trust ($IBIT) reported 364 $BTC in net inflows. As a result of this, the ETF now possesses total of 572,233 $BTC.
Ethereum ETFs Lose 10,484 $ETH in Total Outflows
Ethereum ETFs experienced even deeper net outflows as 10,484 $ETH (approximately $16.56M) cumulatively left in one day. During the recent 7 days, the overall outflows touched 62,017 $ETH, accounting for $97.99M. The total $ETH coins cumulatively held by 9 Ethereum ETFs are presently 3,329,396 $ETH ($5.26B).
$ETHE Records Biggest Outflow of 6,657 $ETH among Ethereum ETFs
The biggest daily outflow was recorded by Grayscale Ethereum Trust ($ETHE), equaling 6,657 $ETH ($10.52M). Due to this, the ETF’s $ETH holdings have dipped to 1,174,546 $ETH. Interestingly, BlackRock’s iShares Ethereum Trust ($ETHA) went through an outflow of 2,725 $ETH while its weekly flow stayed positive at up to 1,514 $ETH. These crypto ETFs signify the cautious behavior of the institutional investors, likely led by recent profit-taking and volatility. While a few funds like $ETHA and $IBIT still show weekly inflows, market onlookers will keep watching for the persistence of this trend.
