Crypto ETFs Stay Red: Bitcoin Loses $349 Million in Friday Pullback

CN
3 hours ago

The crypto ETF market closed the week on a cautious note. After earlier inflow momentum faded, investors continued pulling capital from digital asset funds, producing a second consecutive all-red session across the major crypto ETF categories.

Bitcoin ETFs recorded $348.83 million in net outflows, with withdrawals spread across seven funds. Fidelity’s FBTC led the exits, shedding $158.54 million, while Blackrock’s IBIT followed closely with $143.45 million in outflows.

Additional pressure came from Bitwise’s BITB, which saw $22.17 million leave the fund, and Grayscale’s GBTC, which recorded $9.56 million in redemptions. Vaneck’s HODL posted $5.77 million in outflows, while Grayscale’s Bitcoin Mini Trust and Ark & 21shares’ ARKB lost $4.82 million and $4.52 million, respectively.

Despite the withdrawals, trading activity remained elevated, with $6.50 billion in total value traded. Net assets across bitcoin ETFs closed the day at $87.07 billion.

Crypto ETFs Stay Red: Bitcoin Loses $349 Million in Friday Pullback

Two days of straight outflows for bitcoin ETFs worth $566 million.

Ether funds followed a similar trajectory. Ether ETFs posted a $82.85 million net outflow, spread across five funds. Fidelity’s FETH led the decline with $67.57 million exiting the fund. Grayscale’s Ether Mini Trust recorded $6 million in withdrawals, while Blackrock’s ETHA lost $4.78 million.

Smaller exits were also seen from Vaneck’s ETHV at $2.89 million and Grayscale’s ETHE with $1.61 million. Trading volume reached $1.99 billion, while total net assets ended the session at $11.28 billion.

XRP and solana ETFs were not spared from the broader retreat. XRP ETFs experienced $16.62 million in net outflows, led by $10.60 million leaving 21Shares’ TOXR. Bitwise’s XRP lost $3.65 million, while Grayscale’s GXRP saw $2.37 million exit. Total trading volume reached $56.02 million, and net assets fell to $982.51 million.

Meanwhile, solana ETFs posted $8.23 million in net outflows. Fidelity’s FSOL recorded $5 million in withdrawals, Grayscale’s GSOL lost $2.52 million, and Bitwise’s BSOL saw $1.13 million leave the fund. Invesco’s QSOL provided a modest $426.93K inflow, but it wasn’t enough to offset the broader decline. Trading volume reached $121.08 million, with net assets closing at $807.39 million.

According to market analysts, the continued outflows likely reflect short-term repositioning rather than a collapse in institutional interest.

Crypto Metric @EAribisala31797 tweeted:
“Large outflows like this definitely catch attention, but they don’t always signal a long-term shift. Sometimes ETF flows simply reflect short-term risk-off sentiment or profit-taking while the market searches for the next direction.”
Jean Michel Libera @LiberaInvest shared thoughts on ether ETFs’ outflow, saying, “Daily ETF flows are a reflection of retail sentiment, not institutional conviction. An $82 million outflow is statistical noise in a multi-billion dollar asset class and has zero impact on the long-term structural thesis.”

In summary, Friday extended the cooling trend in crypto ETFs. Bitcoin funds led the retreat with nearly $349 million in outflows, ether followed with significant redemptions, and both XRP and solana ETFs slipped further into negative territory, marking the second consecutive day where every major crypto ETF category closed in the red.

  • Why did Bitcoin ETFs record another large outflow on March 6?
    Bitcoin ETFs saw $348.83 million in outflows as investors likely took profits and adjusted positions after earlier inflow momentum, especially with major withdrawals from Fidelity’s FBTC and BlackRock’s IBIT.
  • Which Ether ETF had the biggest outflow on Friday?
    Fidelity’s FETH led Ether ETF outflows with $67.57 million leaving the fund, accounting for the majority of the sector’s $82.85 million net withdrawal.
  • How did XRP ETFs perform during the session?
    XRP ETFs posted $16.62 million in net outflows, driven mainly by 21Shares’ TOXR, while total net assets fell below the $1 billion mark to $982.51 million.
  • Did Solana ETFs also record losses on Friday?
    Yes, solana ETFs experienced $8.23 million in net outflows, led by withdrawals from Fidelity’s FSOL, Grayscale’s GSOL, and Bitwise’s BSOL, despite a small inflow into Invesco’s QSOL.

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