Spot Bitcoin ETFs in the U.S. Experience Outflows Amidst Market Volatility
The spot Bitcoin ETFs in the U.S. have seen a shift back to outflows on March 3, following a period of market volatility driven by trade tensions and skepticism surrounding a U.S. crypto reserve fund.
Recent data from SoSoValue reveals that the 12 spot Bitcoin ETFs resumed their outflow trend on Monday, with a total of $74.19 million exiting the funds. This comes after a previous day of net inflows totaling $94.34 million.
BlackRock’s IBIT led the outflows for the third consecutive day, with $77.97 million in net redemptions, while Grayscale’s GBTC also continued its outflow trend with $54.39 million withdrawn by investors.
However, ARK and 21Shares’ ARKB stood out with $58.18 million in net inflows, while the remaining nine BTC ETFs saw no activity on the day.
Despite the market volatility, the total daily trading volume for these investment products reached $5.99 billion on March 3, with total net inflows since their launch amounting to $36.97 billion as of press time.
On the other hand, the nine Ethereum ETFs recorded their eighth consecutive day of outflows on the same day, with $12.10 million exiting the funds. BlackRock’s ETHA led the negative flow with investors withdrawing $16.06 million, partially offset by $3.96 million in inflows into Bitwise’s ETHW fund. The remaining seven ETH funds remained neutral on the day.
The market sentiment has been impacted by U.S. President Donald Trump’s confirmation of imposing tariffs on Canada and Mexico, as well as the announcement of a U.S. Crypto Strategic Reserve plan. This plan, which aims to position the U.S. as the “Crypto Capital of the World,” has raised concerns within the crypto community regarding decentralization and government control.
As a result of these developments, Bitcoin and Ethereum prices experienced significant fluctuations, with Bitcoin dropping 9.5% to $84,011 and Ethereum falling 13.8% to $2,098.
Matt Mena, a crypto research strategist at 21Shares, believes that the recent market volatility is driven by fears of inflation and economic uncertainty. He anticipates that Bitcoin could stabilize once futures markets adjust overnight.
Despite short-term price swings, Mena sees these events as laying the groundwork for long-term growth and mainstream financial integration in the crypto market.