- Bitcoin ETFs saw a $12.83M outflow, led by GBTC’s $17.6M single-day withdrawal.
- FETH posted $18.26M in outflows, the only ETH ETF to move amid a quiet session.
- Crypto ETF inflows hit $1.58B in May despite daily pullbacks and mixed signals.
Bitcoin and Ethereum exchange-traded funds (ETFs) recorded net outflows on May 7, breaking a three-day inflow streak. The retreat was driven by sharp withdrawals from Grayscale’s GBTC and Fidelity’s FETH, signaling a cautious turn in investor sentiment. Despite the dip, overall net assets across crypto ETFs remain historically high.
Bitcoin ETFs saw a daily net outflow of 132 BTC, equating to $12.83 million, led by GBTC’s 181 BTC reduction valued at $17.6 million. “Grayscale now holds 190,229 BTC worth $18.46 billion,” in the post by Lookonchain analyzing the flows. Ethereum ETFs lost 10,287 ETH on the same day, totaling $18.81 million in value, with Fidelity’s FETH contributing 9,991 ETH of that exit.
BTC ETFs: Mixed Flows as IBIT Gains, GBTC and ARKB Retreat
Among Bitcoin ETFs, BlackRock’s iShares Bitcoin Trust (IBIT) emerged as the top gainer, with an inflow of $36.73 million despite broader market weakness. Meanwhile, ARK 21Shares’ ARKB lost $16.12 million, and smaller funds like Franklin’s EZBC and VanEck’s HODL posted respective outflows of $8.26 million and $8.06 million. Daily trading volumes across all BTC ETFs reached $1.46 billion.
Cumulatively, Bitcoin ETFs now hold 1,168,883 BTC, valued at $113.41 billion. Over the last seven days, net inflows totaled 15,050 BTC or $1.46 billion, showing long-term accumulation despite short-term rebalancing. This shift in direction has important implications for trend watchers monitoring institutional buying pressure.
ETH ETFs: FETH Sole Mover in a Static Market
According to data from SosoValue, Fidelity’s FETH was the only Ethereum ETF to register a net outflow on May 7, with 9,991 ETH, or $18.26 million, redeemed by investors. The fund is structured for spot ETH exposure, held in Coinbase Custody, with no leverage and a focus on tracking real-time market prices. This change has led to significant outcomes in ETH ETF sentiment, particularly after Q1 volatility.
Other Ethereum ETFs, including Grayscale’s ETHE, BlackRock’s ETHA, and Bitwise’s ETHW, showed no significant daily movement. ETH ETF assets total 3.46 million ETH, worth $6.32 billion. One notable development worth mentioning is the 14,931 ETH seven-day outflow from ETHE, suggesting gradual portfolio rotation.
Long-Term Inflows Steady Despite May Decline
Crypto ETF inflows for May still reached $1.58 billion, aligning with Bitcoin’s price holding near $96,000. Net assets across all crypto ETFs stood at $112.71 billion, up from under $60 billion in January 2024. This change has led to significant outcomes for investors recalibrating their positions amid volatility.
Ethereum ETFs paint a more cautious picture. With net assets stable around $6.20 billion and ETH price hovering at $1,795.82, fund flows have slowed significantly since December. One notable development worth mentioning is the divergence between net asset stability and declining inflows, signaling neutral market sentiment heading into mid-Q2 2025.
