The pullback in crypto exchange-traded funds (ETFs) gathered pace on Wednesday, April 29, with sustained selling pressure across both bitcoin and ether products. What began as a pause now looks more like a short-term repositioning.
Bitcoin ETFs: $137.8 Million Outflows, Assets Below $100B
Bitcoin ETFs recorded net outflows of $137.8 million, extending the losing streak to three days. BlackRock’s IBIT led the declines with $54.73 million in exits, followed by Fidelity’s FBTC at $36.13 million and Ark & 21Shares’ ARKB at $30.04 million. Grayscale’s GBTC and Franklin’s EZBC added to the pressure, posting outflows of $21.15 million and $6.54 million, respectively.
There was a modest offset: Morgan Stanley’s MSBT drew in $10.81 million, offering a rare pocket of demand. It did little to change the broader picture.
Trading activity, however, remained elevated. Bitcoin ETFs saw $2.04 billion in total value traded, reflecting continued market engagement despite the negative flows. Net assets dipped below the $100 billion mark, closing at $99.27 billion — a level that may carry psychological weight for investors.
Ether ETFs: $87.73 Million Outflows, Fidelity and BlackRock Lead
Ether ETFs followed a similar path, though with sharper proportional declines. The group posted net outflows of $87.73 million, driven primarily by Fidelity’s FETH and BlackRock’s ETHA, which saw $48.37 million and $37.06 million in exits. BlackRock’s ETHB, typically a steady inflow vehicle, recorded a rare $2.30 million outflow.
Volumes in ether ETFs climbed to $750.60 million, suggesting that while sentiment has weakened, activity has not. Net assets across the segment ended at $13.10 billion.
XRP Gains Selectively, Solana Remains Flat
Beyond the two largest assets, flows told a more nuanced story. XRP ETFs attracted $3.59 million in inflows, split between Bitwise’s XRP product and Franklin’s XRPZ, which brought in $2.12 million and $1.47 million, respectively. Total trading value stood at $9.31 million, with net assets closing at $1.04 billion.
Solana ETFs remained unchanged for a third straight session. No inflows or outflows were recorded, leaving net assets at $840.78 million and reinforcing the current lack of momentum in the segment.
Market Outlook: Profit-Taking or Deeper Correction?
Taken together, the data reflect a market recalibrating after a strong run. The steady outflows across bitcoin and ether suggest profit-taking and a more cautious stance, while isolated inflows in XRP point to selective risk appetite rather than a broad retreat. The rest of the trading week will be critical in determining whether this trend deepens or stabilizes.