TL;DR
- Spot Bitcoin funds accumulated six consecutive days of withdrawals, totaling over $2.04 billion.
- Ether ETFs also experienced heavy outflows of $1.2 billion, while Solana ETFs attracted capital.
- Macroeconomic uncertainty, linked to a US Supreme Court case, adds volatility to the market.
US spot Bitcoin ETFs are recording an alarming streak of outflows, accumulating more than $2.04 billion in withdrawals over the past week. According to Farside data, wednesday marked the sixth consecutive day of redemptions with a net outflow of $137 million. This negative streak, which began on October 29, solidifies itself as the second-worst recorded in the history of these investment products.
Selling pressure intensified notably at the beginning of the week. On Tuesday, investors withdrew $566 million, preceded by sessions with outflows of $470 million and $488 million.
This wave of withdrawals is only surpassed by the massive sell-off that occurred in late February, when the funds saw more than $3.2 billion in redemptions within a single week, including a record single-day withdrawal of $1.11 billion. Despite this recent downturn, the total cumulative inflows for US spot Bitcoin ETFs remain positive since their launch.
Ethereum ETFs Join the Bearish Trend
The negative sentiment was not limited to Bitcoin. Spot Ether ETFs also faced continuous selling pressure, recording $118.5 million in net outflows on Wednesday. This brings the total withdrawals from Ether products to nearly $1.2 billion during their own six consecutive days of redemptions.
BlackRock’s ETHA led the day’s outflows with $146.6 million. In sharp contrast, Solana (SOL) ETFs continue to attract capital, adding $9.7 million on Wednesday and marking their seventh straight day of positive flows.
This crypto market volatility coincides with an increase in macroeconomic uncertainty. Analysts at Bitunix note that “judicial risk” is beginning to seep into liquidity expectations.
The US Supreme Court has begun hearing arguments regarding the use of presidential powers to impose tariffs. This situation has led to a strengthening of the US dollar as a safe-haven asset, while Bitcoin trades with volatility near $100,000.
