Bitcoin exchange-traded funds (ETFs) saw their three-day inflow streak broken with $86 million in net outflows, primarily due to a sharp drawdown from Grayscale’s GBTC. Ether ETFs also took a hit, recording an $18 million exit, entirely from Fidelity’s FETH.
GBTC and FETH Lead the Exit for Bitcoin and Ether ETFs
The tide briefly turned on Tuesday, May 7, as both bitcoin and ether ETFs logged net outflows, ending a solid start to the week. After 3 days of positive momentum, bitcoin ETFs saw $85.64 million pulled from the market, bringing a pause to their recent inflow streak.
Grayscale’s GBTC led the retreat, posting a hefty $89.92 million outflow, followed by Ark 21Shares’ ARKB with $16.12 million. Franklin’s EZBC and Vaneck’s HODL each saw modest exits of $8.26 million and $8.06 million, respectively. The lone bright spot? Blackrock’s IBIT, which continued to attract capital, pulling in $36.73 million.
Source: Sosovalue
Total value traded across bitcoin ETFs came to $1.46 billion, and net assets ended the day at $111.15 billion.
The ether ETF market wasn’t spared either. Fidelity’s FETH was the sole mover, logging a $17.87 million outflow while the rest of the funds sat idle. With total ether ETF volume at $135.25 million, net assets ticked down slightly to $6.18 billion.
A quieter day for crypto ETFs, but one that reminds investors: the flows don’t always go one way.
