Spot bitcoin and Ethereum exchange-traded funds in the U.S. reported a combined daily net outflow of $437 million yesterday, extending their recent negative flow trend.
According to SoSoValue data, spot bitcoin ETFs saw $254.5 million worth of outflows on Monday, led by $145.5 million leaving BlackRock’s IBIT fund. Other ETFs from Grayscale, Fidelity, Ark & 21Shares, Bitwise and VanEck also posted sizable outflows.
Monday marked the fourth consecutive day of net outflows for the spot bitcoin ETFs, which have shed nearly $1.9 billion over that period.
Spot Ethereum ETFs posted $182.8 million in outflows on Monday, led by $193 million exiting BlackRock’s ETHA and another $3 million leaving Fidelity’s FETH. These outflows were partially offset by roughly $13 million in inflows into Grayscale’s ETHE and ETH funds.
Spot ether ETFs have now logged five straight days of net outflows, with $911.4 million exiting the funds in that period.
“The outflow underscores a deepening caution among institutional investors, reflecting broader macroeconomic headwinds like fiscal uncertainty and elevated interest rate expectations that are eroding the ‘store of value’ narrative for these legacy assets,” said Nick Ruck, director at LVRG Research.
Since late October, bitcoin and ether have been steadily declining as record-length U.S. shutdown drained liquidity from markets, compounded by fading optimism for a December interest rate cut.
Late Monday night, bitcoin had fallen below $90,000 to its seven-month low. It is now trading at $91,253, down 4.44% over the past 24 hours, while Ethereum dropped 4% to $3,056, according to The Block’s crypto price page.
“This [outflow] trend signals a maturing yet risk-averse crypto market, where BTC and ETH are increasingly viewed as vulnerable to equity selloffs,” Ruck said. “If outflows persist, we could see intensified price pressure pushing bitcoin and Ethereum even further down, potentially triggering a wider altcoin correction and reduced overall market liquidity.”
Altcoin ETFs see inflows
On the other hand, the recently launched spot altcoin ETFs saw positive flows on Monday.
Canary Capital’s spot XRP ETF reported $25.41 million in net inflows yesterday, after it drew in $243 million last Friday. Canary’s spot Litecoin ETF also saw $2 million in net inflows.
Spot Solana ETFs had $8.26 million in net inflows, with funds going into Bitwise’s BSOL and Grayscale’s GSOL, while VanEck’s newly launched VSOL recorded no flows on its first day.
Meanwhile, two more Solana ETFs are scheduled to launch on Tuesday — SOLC from Canary and FSOL from Fidelity — according to Bloomberg Analysts Eric Balchunas and James Seyffart.
“Positive flows into Solana, XRP, and Litecoin ETFs point to early signs of capital rotation toward altcoins with clearer regulatory paths and potential to gain higher market capitalization, a diversification strategy that could accelerate if altcoin ETF approvals continue in the near future,” Ruck told The Block.
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