Bitcoin ETF Outflows Continue as Market Sentiment Turns Risk-Off
Spot Bitcoin exchange-traded funds in the United States saw their third consecutive day of outflows as Bitcoin dipped below $90,000 amid a broader market risk-off sentiment.
Recent data from SoSoValue reveals that 12 spot Bitcoin ETFs experienced net outflows totaling $284.19 million on Jan. 13, extending their outflow streak to three days, during which over $1 billion exited the funds.
Among the ETFs, Fidelity’s FBTC led the outflows on Monday, with $113.64 million leaving the fund, followed by ARK 21Shares’ ARKB with outflows of $92.36 million.
Grayscale’s GBTC and Bitwise’s BITB also saw investors withdrawing $89.01 million and $18.64 million from the funds, respectively.
Interestingly, BlackRock’s IBIT was the only exception, recording an inflow of $29.46 million. The remaining Bitcoin ETFs reported no flows on the day.
The total trading volume for the 12 Bitcoin ETFs amounted to $3.17 billion, slightly lower than the $3.26 billion recorded the previous day.
The significant outflows on Jan. 13 coincided with Bitcoin briefly dropping below $90,000, reflecting the broader decline in crypto assets following strong payroll numbers and concerns over potential tariff plans.
As of now, Bitcoin (BTC) has recovered slightly, trading above $95,000, aiming to regain momentum towards the $100,000 mark, as indicated by analysts.
Ethereum ETFs Also Experience Outflows
The nine Ethereum exchange-traded funds faced their fourth consecutive day of outflows on Jan. 13, with $39.43 million withdrawn from the funds.
Grayscale’s Ethereum Mini Trust reported an outflow of $37.84 million, while the GBTC fund also saw $14.49 million exiting the fund, contributing to the negative sentiment.
On the flip side, BlackRock’s ETHA managed to offset some of the outflows with an inflow of $12.9 million on the same day. The remaining Ethereum ETFs remained stable in terms of flows.
Ethereum (ETH) was trading at $3,175, down 1.9% at the time of writing.