Bitcoin and Ethereum ETF April Exits Overtake March Outflows

ccn.comPublished on 2025-04-11Last updated on 2025-04-11

Key Takeaways
  • U.S. spot Bitcoin ETFs command $88.61 billion in net assets or 5.59% of BTC’s market cap.
  • BTC ETF outflows totaled $767.91 million in March 2025. April has seen $813.89 million in outflows in less than two weeks.
  • U.S. spot Ethereum ETFs hold $5.1 billion in net assets or 2.76% of ETH’s market cap.

U.S. spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) continue to experience downward pressure despite BTC’s price somewhat recovering from its $75,000 lows.

Now, less than two weeks into April, BTC fund outflows have surpassed those of March, suggesting even more exits to come.

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Bitcoin ETFs

As per data gathered by SoSoValue, Bitcoin ETFs recorded $149.66 million in daily net outflows on April 10, 2025, marking day six of a deepening outflow streak that has seen $813.89 million in outflows since the start of April.

Bitcoin ETF monthly inflows/outflows.
Bitcoin ETF flows. | Source: SoSoValue.

The sole gainer for the day was the Grayscale Bitcoin Mini Trust, which pulled $9.87 million in net inflows. The fund has garnered $1.15 billion in cumulative net inflows and commands $3.26 billion in net assets.

Fidelity’s Wise Origin Bitcoin Trust (FBTC) posted $74.63 million in exits, leading the losses. It remains the second-largest fund with $11.4 billion in cumulative net inflows and commands a sizeable $15.59 billion net assets.

Up next, the Grayscale Bitcoin Trust (GBTC) lost $44.63 million in net outflows. GBTC is by far the worst-performing fund, with cumulative net outflows totaling $22.78 billion and a large but dwindling portfolio currently holding $15.13 billion in net assets.

The ARK 21Shares Bitcoin ETF (ARKB) incurred smaller losses, posting $12.69 million in outflows. ARKB has seen $2.57 billion in cumulative net inflows and commands $3.74 billion in net assets.

The Bitwise Bitcoin ETF (BITB) recorded $10.82 million in outflows, bringing its cumulative net inflows to $1.96 billion and net assets to $2.99 billion.

Finally, smaller funds, Franklin Templeton’s Bitcoin ETF (EZBC) and Invesco Galaxy Bitcoin ETF (BTCO), posted net outflows of $9.21 million and $7.55 million, respectively.

Ethereum ETFs

As per SoSoValue data, Ethereum ETFs posted $38.79 million in daily net outflows on April 10, 2025. This brings monthly outflows to $109.63 million.

Unlike BTC funds, this is far under the $403.37 million lost throughout March, though it continues an ongoing trend of underperformance for ETH overall.

Ethereum ETF monthly inflows/outflows.
Ethereum ETF flows. | Source: SoSoValue.

Charting a green candle, BlackRock’s iShares Ethereum Trust (ETHA) pulled a modest $6.43 million net inflows. ETHA is the top-performing fund, having garnered $4.05 billion in cumulative net inflows and now holding $1.79 billion in net assets.

Leading the losses, the second-best performing fund by cumulative flows, Fidelity’s Ethereum Fund (FETH), shed $36.01 million in net outflows, bringing its cumulative net inflows down to $1.37 billion. It currently holds $562.11 million in net assets.

As for more minor losses, VanEck Ethereum Trust (ETHV) posted $4.44 million in outflows, followed by  Bitwise’s Ethereum ETF (ETHW), which shed a modest $2.5 million.

Finally, the Grayscale Ethereum Trust (ETHE) posted $2.27 million in net outflows. Like its BTC ETF, Grayscale’s ETH ETF is the worst-performing by far, with $4.2 billion in cumulative net outflows. It now holds $1.81 billion in net assets.

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