IBIT drives $201 million outflow in US bitcoin ETFs as Ether and XRP funds gain

US spot bitcoin exchange-traded funds (ETFs) recorded a significant outflow on Monday, with total withdrawals amounting to $236 million, according to data from SoSoValue. The largest contributor was BlackRock’s IBIT, which saw $201 million exit the fund. Fidelity’s FBTC followed with an outflow of $44 million.

IBIT sees major outflows

BlackRock, recognized as the world’s largest asset manager, has positioned IBIT as a key instrument for investors seeking exposure to bitcoin without directly holding the cryptocurrency. The $201 million outflow from IBIT signals a noticeable shift in investor sentiment or portfolio strategy.

Fidelity, another major US asset manager known for its diverse investment offerings, reported a withdrawal of $44 million from its FBTC bitcoin ETF. These two funds together accounted for nearly the entire outflow from spot bitcoin ETFs on the day, highlighting their dominant roles in the current market landscape.

IBIT accounted for most of a significant $236 million outflow in spot bitcoin ETFs on Monday, with Fidelity’s FBTC also seeing a notable withdrawal.

Limited inflows and flat performance elsewhere

Bitwise’s BITB emerged as the only fund in this group to post a net inflow, attracting approximately $8 million. The remaining nine spot bitcoin ETFs reported no significant fund movement, reflecting subdued trading activity across the board.

Outside of bitcoin-focused funds, other cryptocurrency ETF products recorded modest gains. Ether ETFs attracted $11 million in fresh capital, continuing a streak of 12 consecutive days with net inflows. Meanwhile, funds tracking XRP collected $14 million, and those exposed to solana took in $10 million. A fund called hyperliquid also saw a smaller increase, adding nearly $2 million.

Mini dictionary: Hyperliquid is a decentralized trading platform and DeFi protocol offering perpetual futures trading and on-chain liquidity for a range of digital assets. Its ETF exposure remains relatively minor compared to established vehicles for large-cap cryptocurrencies.

Market trends and price movements

Bitcoin traded just above $77,000 during Asian trading hours on Wednesday, marking a 2% weekly decline, according to CoinDesk data. Among major altcoins, solana and zcash led the 24-hour losses with each dropping about 3%. XRP, tron and dogecoin slipped by roughly 2%. Bitcoin, ether, BNB and hyperliquid funds hovered within 2% of their previous prices, indicating limited volatility among top-tier assets.

Cryptocurrency/Fund1-Day ChangeWeekly PerformanceRecent ETF FlowBitcoin-2%-2%$236M outflowSolana-3%N/A$10M inflowXRP-2%N/A$14M inflowEtherflatN/A$11M inflowZcash-3%N/AN/A

Analysts have noted that the outsized withdrawal from IBIT highlights the impact one large institutional portfolio can have on overall ETF flows. Ongoing movements in IBIT will be closely monitored, as further redemptions may continue to set the short-term direction for the broader spot bitcoin ETF landscape.

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