US Crypto Euphoria Fades as Bitcoin, Ethereum ETFs Turn Red

Key Takeaways

• U.S. spot Bitcoin ETFs command $117.35 billion in BTC or 5.84% of its market cap.
• ETF applications for Litecoin (LTC), Ripple (XRP), Solana (SOL), Cardano (ADA), Dogecoin (DOGE), and others are piling up.
• U.S. spot Ethereum ETFs hold $11.3 billion in net assets or 2.98% of ETH’s market cap.

U.S. spot Bitcoin ( BTC ) and Ethereum ( ETH ) exchange-traded funds (ETFs) have seen a combined outflow of $593.73 million.

As the initial excitement from the “Trump Effect” fades and Bitcoin retreats from its all-time high, institutional crypto investors are bracing for potential volatility.

Meanwhile, concerns over China’s growing influence in artificial intelligence (AI) are rattling Western tech markets, further contributing to the unease among investors.

Bitcoin ETFs

As per SoSovalue, Bitcoin ETFs have recorded outflows of $457.48 million on Jan. 27, 2025, following a 7-day inflow streak.

Bitcoin ETF flows. Source: SoSoValue

Unshaken by the bearish sentiment, BlackRock’s iShares Bitcoin Trust (IBIT) investors poured $63.94 million in net inflows into the fund. With $39.79 billion in cumulative net inflows and $57.86 billion in net assets, IBIT is leagues ahead of the competition.

Leading the outflows, Fidelity’s Wise Origin Bitcoin Fund (FBTC) took a sizeable hit, shedding $268.59 million in daily net outflows. The second-best-performing fund has notched $12.77 billion in cumulative net inflows and scooped up $21.32 billion in net assets.

The Grayscale Bitcoin Trust (GBTC) stayed on brand with $108.47 million in net outflows. Having failed to capture or retain investor interest, GBTC has recorded $21.86 billion in cumulative net outflows and now commands $20.42 billion in net assets.

The Bitwise Bitcoin ETF (BITB) saw $88.57 million in exits, followed by ARK 21Shares Bitcoin ETF (ARKB), which lost $50.11 million in outflows. Finally, the VanEck Bitcoin ETF (HODL) posted outflows of $5.68 million.

Ethereum ETFs

According to SoSoValue, Ethereum ETFs have recorded their second-worst day of outflows since launching, shedding $136.25 million on Jan. 27, 2025.

Ethereum ETF flows. Source: SoSoValue

Going against the bearish grain, BlackRock’s iShares Ethereum Trust (ETHA) bagged a cool $20.69 million in net inflows. The top-performing ETH fund has recorded an exceptional $3.99 billion in cumulative net inflows and holds $4.75 billion in net assets.

Kicking off the outflows, Grayscale Ethereum Trust (ETHE) maintained its losing streak with $84.24 million in exits, its second-largest outflow since July 31, 2024.

To date, ETHE has seen cumulative net outflows of $3.85 billion and has a dwindling $4.25 billion basket of net assets.

Fidelity’s Ethereum Fund (FETH) took a sizeable hit, shedding $68.46 million in net outflows. FETH is the second-best-performing  fund,  with cumulative net inflows of $1.39 billion.

Finally, the Bitwise Ethereum ETF (ETHW) took a modest hit of $4.23 million in outflows.