US-listed Ethereum and Bitcoin exchange-traded funds (ETFs) saw sharp withdrawals at the start of last week, with total net outflows reaching roughly $755 million. The move followed one of the most severe liquidation waves in the history of digital assets, erasing over $500 billion in market value during the weekend.
The massive sell-off rattled investor sentiment as renewed trade tensions between Washington and Beijing reignited concerns of a broader economic slowdown.
Data from SoSoValue indicated that spot Bitcoin ETFs registered $326.52 million in withdrawals, while Ethereum-linked funds saw an even larger $428.52 million pulled out. This marked the third straight day of redemptions for both cryptocurrencies, signaling a cautious mood among institutional players after a period of heavy inflows earlier in the month.
Among Bitcoin funds, BlackRock’s IBIT stood out as the only product to post gains, drawing in $60.36 million. IBIT now manages $93.11 billion in assets and has accumulated $65.32 billion in net inflows since launch, keeping its lead in the category.
Grayscale’s GBTC suffered the heaviest losses, recording $145.39 million in daily redemptions and extending its cumulative outflows to $24.35 billion. Fidelity’s FBTC saw $93.28 million leave its portfolio.
By the end of the trading session, Bitcoin spot ETFs collectively held $157.18 billion in assets, equivalent to 6.81% of Bitcoin’s market cap. Trading activity remained high at $6.63 billion for the day, reflecting the elevated uncertainty in crypto markets.
Ethereum ETFs endured even deeper cuts. BlackRock’s ETHA led the sell-off with $310.13 million, followed by Grayscale’s ETHE at $20.99 million and Fidelity’s FETH at $19.12 million. The total value of Ether spot ETFs dropped to $28.75 billion, 5.56% of Ether’s overall market cap. Cumulative inflows slipped to $14.48 billion from $15.08 billion.
The sell-off followed comments from President Trump confirming plans for a 100% tariff on China’s imports. China responded with a vow to “fight to the end,” intensifying global market anxiety. Bitcoin’s price fell to $112,283, while Ethereum declined to $4,030.
Despite the downturn, CoinShares showed that crypto investment funds had attracted $3.17 billion in inflows, led by Bitcoin with $2.7 billion and Ethereum with $338 million.
Traders are now watching for signals from Fed Chair Jerome Powell’s speech at the NABE conference in Philadelphia. Analysts say a hawkish stance could prolong the market’s correction.
Meanwhile, volatility is tightening. Analyst Tony “The Bull” Severino noted that Bitcoin’s Bollinger Bands are at their narrowest levels on record, often a precursor to sharp price moves. He cautioned that the next 100 days could see either a major rally or the end of the current bull phase.
Despite turbulence, institutional confidence persists. BitMine, the largest corporate holder of Ether, revealed it bought over 202,000 ETH during last weekend’s drop—worth $827 million—raising its total holdings to over 3 million ETH.
Major exchanges like Coinbase Global Inc. (NASDAQ: COIN) will be tracking activity on their platforms to gauge how far current news events could impact investor interest in cryptos.
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