Bitcoin ETFs Suffer Second Week of Outflows, ETH Funds Run Green

Key Takeaways

• U.S. spot Bitcoin ETFs command $110.8 billion in BTC, representing 5.88% of its market cap.
• BTC ETFs have posted their second consecutive week of outflows for the first time since launching in January 2024.
• U.S. spot Ethereum ETFs command $10.31 billion in net assets or 3.14% of ETH’s market cap.

U.S. spot Bitcoin (BTC) exchange-traded funds (ETFs) continue to slide as a second week of outflows grant Ethereum (ETH) funds a rare chance to overtake their BTC counterparts by a slim margin.

Though Ethereum ETFs have lagged behind BTC for some time, they are increasingly tallying positive inflows and are now occasionally outperforming BTC funds.

Bitcoin ETFs

As per data from SoSoValue, Bitcoin ETFs ended last week with a fourth consecutive day of net outflows, shedding a combined $62.77 million on Feb. 21, 2025. This brings the week’s net outflows to $559.41 million, marking their second week of outflows in a row, totaling roughly $1.14 billion.

Not to be swept up in the red tide, BlackRock’s iShares Bitcoin Trust (IBIT) maintained its bullish trajectory with a modest $21.64 million in net inflows. The fund is the top performer in terms of cumulative net inflows and total net assets, which stand at $40.88 billion and $55.85 billion, respectively.

The VanEck Bitcoin ETF (HODL) captured a very modest $4.71 million in net inflows.

As for exits, Fidelity’s Wise Origin Bitcoin Fund (FBTC) tallied $12.47 million in outflows, bringing its cumulative net inflows to $12.33 billion and net assets to $19.68 billion. Despite this, FBTC is the second-best performing fund under IBIT.

The Bitwise Bitcoin ETF took a minor $16.58 million loss. It’s followed by the Grayscale Bitcoin Trust (GBTC), which posted $60.08 million in net outflows. This brings the fund’s cumulative net outflows to $22.11 billion and net assets down to $18.84 billion.

Ethereum ETFs

Ethereum funds just managed to avoid charting another week of net outflows despite ending the week with $8.92 million in outflows on Feb. 21, 2025. This has remarkably allowed ETH funds to post a very humble $1.61 million in weekly net inflows.

Just one fund saw substantial action, the Bitwise Ethereum ETF (ETHW), which posted $8.92 million in net outflows after over a week of neutrality.

This brings the fund’s cumulative net inflows to $338.63 million and net assets to $270.53 million. Though these are humble figures compared to competitors, ETHW ranks fourth for cumulative net inflows and fifth for net assets.