Bitcoin ETF Outflow Streak Enters Fourth Week, Ethereum Funds Show Signs of Strength

Key Takeaways

• U.S. spot Bitcoin ETFs command $99.37 billion in BTC, representing 5.77% of its market cap.
• Bitcoin is trading up 4.86% at $87,852; Ethereum is trading up 5.93% at $2,219.
• U.S. spot Ethereum ETFs command $7.85 billion in net assets or 3.04% of ETH’s market cap.

U.S. spot Bitcoin (BTC) exchange-traded funds (ETFs) are set for a fourth straight week of outflows as investors continue to pull back.

Meanwhile, Ethereum funds are once again outperforming their BTC counterparts despite ETH’s underwhelming price action this year.

Bitcoin ETFs

Bitcoin ETFs faced another day of losses, recording $143.43 million in net outflows on Mar. 4, according to SoSoValue.

After three straight weeks of outflows totaling nearly $4 billion, BTC funds remain on track for a fourth week of exits, though at a slower pace than last week’s $2.61 billion drain.

Bitcoin ETF flows. Source: SoSoValue.

Grayscale’s Bitcoin Mini Trust was the sole gainer, bringing in a modest $35.77 million. Launched six months after other funds, the fund has performed well, attracting $1.09 billion in cumulative net inflows.

Leading the outflows, Fidelity Wise Origin Bitcoin Fund (FBTC) shed $46.08 million. Despite the setback, it remains the second-best performer by cumulative inflows and net assets, standing at $11.72 billion and $17.59 billion, respectively.

ARK 21Shares Bitcoin ETF (ARKB) posted $43.92 million in net outflows, while Franklin Templeton’s Digital Holdings Trust (EZBC) followed with $35.71 million in exits.

Among smaller losses, Bitwise Bitcoin ETF (BITB) saw $23.96 million in outflows, Invesco Galaxy Bitcoin ETF (BTCO) lost $16.47 million, and WisdomTree Bitcoin Trust (BTCW) recorded $13.07 million in exits.

Ethereum ETFs

Ethereum ETFs broke an eight-day outflow streak on Mar. 4, recording $14.58 million in net inflows, according to SoSoValue.

ETH funds have been modestly outperforming BTC funds in recent weeks.

Ethereum ETF flows. Source: SoSoValue.

Leading the inflows, Fidelity’s FETH added $21.67 million. With $1.51 billion in cumulative net inflows, FETH ranks second overall and fourth by net assets at $980.71 million.

Grayscale Ethereum Trust (ETHE) also ended a prolonged outflow streak, marking just its fourth-ever day of net inflows with $10.71 million. However, it remains the worst-performing Ethereum ETF, with $4.06 billion in cumulative net outflows.

Meanwhile, Grayscale Ethereum Mini Trust posted $8.46 million in inflows, its first notable gain after a month of negligible or negative flows.

BlackRock’s iShares Ethereum Trust (ETHA), the top performer by cumulative net inflows and assets, continued its losing streak with $26.27 million in net outflows.

ETHA has not seen a day of inflows since Feb. 13, tallying $216.42 million in net outflows over that period.

Despite this, it remains dominant, with $4.23 billion in cumulative net inflows and $2.76 billion in net assets.