Bitcoin ETFs, like a tragic hero in a Dostoevsky novel, have endured their fifth consecutive day of outflows, hemorrhaging $127 million. Blackrock’s IBIT, the protagonist of this financial drama, led the exodus. Ether ETFs, too, were not spared, with $11.19 million fleeing the scene, dragging total net assets below the $6 billion threshold.
The crimson tide of despair continues to engulf crypto exchange-traded funds (ETFs). Bitcoin ETFs, in their fifth act of financial tragedy, lost $127 million, as the specter of macro volatility looms large over the market. Blackrock’s IBIT, the tragic figure of this tale, bore the brunt of the retreat, with $89.71 million vanishing into the ether. Grayscale’s GBTC followed suit, shedding $33.80 million, while Wisdomtree’s BTCW and Vaneck’s HODL lost $5.67 million and $4.65 million, respectively.
Yet, amidst the gloom, a glimmer of hope emerged. Bitwise’s BITB, like a lone candle in the darkness, posted a $6.71 million inflow, the first sign of life for any Bitcoin ETF this week. Trading activity also saw a resurgence, with total value traded soaring to $5.3 billion, a stark contrast to Tuesday’s $3 billion. Encouragingly, net assets clawed their way back to $91.79 billion, breaching the $90 billion threshold.
In the ether ETF arena, the exodus continued unabated. Outflows totaled $11.19 million, with Fidelity’s FETH ($5.73M) and Blackrock’s ETHA ($5.45M) leading the charge. The remaining funds remained stagnant, showing no net movements. Trading activity in ether ETFs was relatively robust at $823.68 million, but total net assets slipped to $5.56 billion, well below the symbolic $6 billion mark.
As the week draws to a close, the persistence of these outflows signals a market still grappling with the existential dread of inflation expectations, rate policy, and broader risk sentiment. However, the 90-day pause on tariffs by President Donald Trump could yet breathe life back into the markets, offering a glimmer of hope in this financial tragedy.
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2025-04-10 15:57