Spot Bitcoin exchange-traded funds (ETFs) experienced a noteworthy shift as they reported $296.18 million in net outflows for the week ending Friday, marking the end of a remarkable four-week inflow streak. This reversal comes on the heels of an impressive total of over $2.2 billion in inflows during that period, which included inflows of $787.31 million, $568.45 million, and $767.33 million in early March. However, the trend began to slow, with only $95.18 million inflow reported in the previous week, according to data from SoSoValue.
In a significant turn, the outflows culminated in daily withdrawals on both Thursday and Friday, tallying more than $396 million. Notably, a $225.48 million outflow was recorded on Friday alone, marking the largest single-day redemption since March 3, when outflows reached $348 million. Despite this week’s reversal, cumulative net inflows into spot Bitcoin (BTC) ETFs remained impressive at $55.93 billion; however, total net assets dropped to $84.77 billion from over $90 billion just a week prior.
Trading activity also saw a decline, with weekly volume falling to $14.26 billion compared to $25.87 billion earlier in March, highlighting a cooling in trading enthusiasm.
Commenting on the current climate, a Bitunix analyst noted a concerning backdrop characterized by “surface stability and internal imbalance.” While geopolitical tensions could be said to have eased somewhat due to recent developments like the US–EU trade agreement and delayed Middle Eastern tensions, underlying risks remain ever-present. In this uncertain environment, Bitcoin is exhibiting more characteristics of a liquid asset rather than a standout investment option; the asset is trading within a range of $65,000 to $72,000, reflecting demand absorption but with limited upward momentum.
The analyst emphasized that while capital is not exiting the market, it also seems hesitant to take on new risks, suggesting that price fluctuations may remain turbulent within established ranges until broader macroeconomic conditions begin to clarify.
Meanwhile, spot Ether (ETH) ETFs faced their own challenges, posting $206.58 million in outflows, marking the second consecutive week of losses. This decline interrupts a brief inflow period seen earlier in March. Daily tracking highlights consistent outflows throughout the week, with trades seeing withdrawals on each trading day since March 18. The largest single-day outflow for Ether came on Thursday, amounting to $92.54 million, followed by an additional $48.54 million withdrawal on Friday.
