Bitcoin and Ethereum ETF April Exits Overtake March Outflows

• U.S. spot Bitcoin ETFs command $88.61 billion in net assets or 5.59% of BTC’s market cap.
• BTC ETF outflows totaled $767.91 million in March 2025. April has seen $813.89 million in outflows in less than two weeks.
• U.S. spot Ethereum ETFs hold $5.1 billion in net assets or 2.76% of ETH’s market cap.

U.S. spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) continue to experience downward pressure despite BTC’s price somewhat recovering from its $75,000 lows.

Now, less than two weeks into April, BTC fund outflows have surpassed those of March, suggesting even more exits to come.

Bitcoin ETFs

As per data gathered by SoSoValue, Bitcoin ETFs recorded $149.66 million in daily net outflows on April 10, 2025, marking day six of a deepening outflow streak that has seen $813.89 million in outflows since the start of April.

The sole gainer for the day was the Grayscale Bitcoin Mini Trust, which pulled $9.87 million in net inflows. The fund has garnered $1.15 billion in cumulative net inflows and commands $3.26 billion in net assets.

Fidelity’s Wise Origin Bitcoin Trust (FBTC) posted $74.63 million in exits, leading the losses. It remains the second-largest fund with $11.4 billion in cumulative net inflows and commands a sizeable $15.59 billion net assets.

Up next, the Grayscale Bitcoin Trust (GBTC) lost $44.63 million in net outflows. GBTC is by far the worst-performing fund, with cumulative net outflows totaling $22.78 billion and a large but dwindling portfolio currently holding $15.13 billion in net assets.

The ARK 21Shares Bitcoin ETF (ARKB) incurred smaller losses, posting $12.69 million in outflows. ARKB has seen $2.57 billion in cumulative net inflows and commands $3.74 billion in net assets.

The Bitwise Bitcoin ETF (BITB) recorded $10.82 million in outflows, bringing its cumulative net inflows to $1.96 billion and net assets to $2.99 billion.

Finally, smaller funds, Franklin Templeton’s Bitcoin ETF (EZBC) and Invesco Galaxy Bitcoin ETF (BTCO), posted net outflows of $9.21 million and $7.55 million, respectively.

Ethereum ETFs

As per SoSoValue data, Ethereum ETFs posted $38.79 million in daily net outflows on April 10, 2025. This brings monthly outflows to $109.63 million.

Unlike BTC funds, this is far under the $403.37 million lost throughout March, though it continues an ongoing trend of underperformance for ETH overall.

Charting a green candle, BlackRock’s iShares Ethereum Trust (ETHA) pulled a modest $6.43 million net inflows. ETHA is the top-performing fund, having garnered $4.05 billion in cumulative net inflows and now holding $1.79 billion in net assets.

Leading the losses, the second-best performing fund by cumulative flows, Fidelity’s Ethereum Fund (FETH), shed $36.01 million in net outflows, bringing its cumulative net inflows down to $1.37 billion. It currently holds $562.11 million in net assets.

As for more minor losses, VanEck Ethereum Trust (ETHV) posted $4.44 million in outflows, followed by  Bitwise’s Ethereum ETF (ETHW), which shed a modest $2.5 million.

Finally, the Grayscale Ethereum Trust (ETHE) posted $2.27 million in net outflows. Like its BTC ETF, Grayscale’s ETH ETF is the worst-performing by far, with $4.2 billion in cumulative net outflows. It now holds $1.81 billion in net assets.