Crypto exchange-traded funds (ETFs) faced another tough session on March 27, with Bitcoin funds experiencing massive outflows and Ether products extending their losing streak to seven days, underscoring deepening institutional caution.
Bitcoin ETFs: Broad Selloff Hits Seven Funds
Bitcoin ETFs reported a net outflow of $171.22 million, marking one of the largest single-day withdrawals in recent weeks. The selling was widespread, with seven funds recording redemptions across major issuers.
BlackRock's IBIT led the decline with an outflow of $41.92 million, followed by Bitwise's BITB ($33.10 million) and Fidelity's FBTC ($32.81 million). Ark & 21Shares' ARKB saw $30.45 million in outflows, while Grayscale's GBTC lost $25.06 million. Smaller outflows were noted from Grayscale Bitcoin Mini Trust ($5.45 million) and VanEck's HODL ($2.42 million). Total trading volume reached $2.49 billion, and net assets declined to $88.36 billion.
Ether ETFs: Seven-Day Slide Continues Despite Isolated Inflows
Ether ETFs extended their negative streak to seven consecutive days, with net outflows of $92.54 million. BlackRock's ETHA was the primary driver, shedding a sharp $140.24 million. Additional outflows came from Fidelity's FETH ($23.95 million), Grayscale's ETHE ($13.83 million) and Ether Mini Trust ($6.21 million), and Bitwise's ETHW ($5.12 million).
However, a notable counterbalance emerged: BlackRock's other Ether product, ETHB, attracted strong inflows of $96.81 million, partially offsetting the overall decline. This made ETHB a rare bright spot. Ether ETF trading volume stood at $878.53 million, with net assets closing at $11.70 billion.
Solana and XRP ETFs: Light Activity, Divergent Trends
Solana ETFs posted a net outflow of $1.04 million, driven by Fidelity's FSOL and VanEck's VSOL. Trading volume was $23.96 million, and net assets fell to $849.65 million.
XRP ETFs recorded no trading activity at all, with assets unchanged at $949.15 million. The lack of movement highlights waning investor interest in smaller crypto ETFs.
Market Mood: Caution Prevails, No Quick Reversal in Sight
Thursday's data reinforced a cautious market stance. Bitcoin faced broad outflows, Ether extended its downtrend despite isolated inflows, Solana slipped marginally, and XRP remained stagnant. Institutional investors appear to be reducing risk exposure, awaiting clearer signals before returning to the market.