US-listed spot Bitcoin exchange-traded funds recorded $291 million in net outflows on Monday, marking the largest daily redemption since March 27. The decline came even as Bitcoin surged roughly 5% to trade above $74,000, reaching its highest level in nearly four weeks.
The majority of withdrawals were driven by the Fidelity Wise Origin Bitcoin Fund (FBTC), which alone accounted for $229 million in outflows. Market data indicated that selling pressure was concentrated within a limited number of funds rather than spread across the entire ETF sector, suggesting selective repositioning rather than broad investor panic.
Select Funds Maintain Positive Momentum Amid Market Divergence
Despite overall ETF outflows, several funds continued to attract new capital. The BlackRock spot Bitcoin ETF recorded approximately $35 million in inflows on Monday, extending its positive streak to four consecutive trading days. This brought its cumulative inflows during the period to about $482 million, reflecting continued institutional demand.
Another notable performer was the Morgan Stanley Bitcoin Trust ETF (MSBT), which maintained its inflow trend following its launch on April 8, accumulating roughly $68 million in total inflows. Despite these gains, the broader spot Bitcoin ETF market has returned to negative territory for the year, recording about $160 million in year-to-date outflows.
Altcoin ETFs Hold Steady While Market Sentiment Slowly Improves
While Bitcoin-focused funds faced outflows, altcoin ETFs recorded modest gains. Spot Ether ETFs saw $9.4 million in inflows, extending their three-day streak to around $160 million. Funds tied to XRP recorded $1.5 million in new capital, while Solana funds showed no inflow activity.
Investor sentiment indicators also showed slight improvement, with the Crypto Fear and Greed Index rising above 20 for the first time since mid-March, though it remains within the “extreme fear” range. Analysts noted that sustained price growth would likely require renewed capital inflows into derivatives markets and rising open interest levels to confirm a durable bullish trend.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.