Bitcoin ETFs See Largest Daily Outflow Since March With $291M Pulled on Monday - Crypto Economy

TL;DR:

  • Spot Bitcoin ETFs in the U.S. recorded $291 million in outflows on Monday, the largest single-day figure since March 27.
  • Fidelity Wise Origin Bitcoin Fund led withdrawals with $229 million, while BlackRock extended its positive streak to four consecutive days of inflows.
  • Despite net outflows, BTC surpassed $74,000 and the Fear & Greed index rose above 20 for the first time since March 19.

Spot Bitcoin ETFs listed in the United States recorded $291 million in outflows on Monday, the largest single-day outflow since March 27, according to data from SoSoValue. The capital movement occurred simultaneously with an approximately 5% rise in BTC’s price, which reached four-week highs and came very close to $75,000.

The main driver of withdrawals was the Fidelity Wise Origin Bitcoin Fund (FBTC), which accounted for $229 million of total outflows, according to data from Farside. This weakness was not evenly distributed across funds but concentrated in a handful of vehicles, suggesting a cautious repositioning by certain investors. The general market sentiment remains negative, and some analysts warn that BTC could pull back to $50,000 before embarking on a sustained recovery.

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Bitcoin Rises and BlackRock Extends Its Positive Streak

Against the negative net flow, BlackRock recorded nearly $35 million in inflows on Monday, extending its positive streak to four consecutive days. Over that period, the fund accumulated $482 million in inflows. The Morgan Stanley Bitcoin Trust ETF (MSBT), launched on April 8, also achieved a four-consecutive-day inflow streak since its debut, registering approximately $68 million in total.

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With Monday’s losses, spot Bitcoin ETFs returned to negative territory for the year to date, recording around $160 million in cumulative outflows.

Altcoins Hold Their Ground

Altcoin funds managed to stay in the green Spot Ethereum ETFs recorded $9.4 million in inflows, reaching three consecutive days of gains and accumulating nearly $160 million over that stretch XRP funds received $1.5 million, while Solana funds recorded no movements.

On the other hand, the Crypto Fear & Greed index surpassed 20 for the first time since March 19, although it remained in “extreme fear” territory with a reading of 21. Some CryptoQuant analysts noted that a lasting recovery would require the return of fresh capital to derivatives markets, with an increase in open interest being a necessary condition to confirm the trend.

BTC1,44%
ETH1,64%
XRP3,53%
SOL2,78%
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