Spot Bitcoin ETFs traded in the United States witnessed a net outflow of $263 million on Monday, ending a nine-day run of continuous inflows. The pullback followed Bitcoin’s failure to break past the $80,000 mark, with the price dipping below $77,000 that day.
ETF inflows stall, crypto sentiment shifts
Interest in spot Bitcoin ETFs had surged recently, driving total inflows of $2.1 billion since April 13, and helping push Bitcoin roughly 10% higher over the same period. However, the momentum reversed sharply after Monday’s significant sell-off, marking the first net outflow in nine sessions according to SoSoValue data.
This latest downturn in BTC affected the broader crypto market’s investor sentiment as well. For the first time in three months, the widely followed Crypto Fear & Greed Index dropped to a “Neutral” reading, registering 47 points on Monday. The mood worsened the next day, as Bitcoin failed to stage a meaningful comeback and the index slipped back into “Fear” territory.
Experts highlight that outflows from ETFs could intensify short-term market pressure, while noting that investors have turned cautious following the recent rally.
Fidelity leads outflows, others follow
Monday’s $263 million total withdrawal was driven primarily by Fidelity’s Wise Origin Bitcoin Fund, which saw $150 million in outflows, data from Farside shows. The Grayscale Bitcoin Trust ETF registered a $47 million exit, while ARK 21Shares Bitcoin ETF recorded $43 million in withdrawals.
Meanwhile, BlackRock’s iShares Bitcoin Trust ETF and the Morgan Stanley Bitcoin Trust ETF, both of which had attracted notable inflows in the previous week, reported no new flows on Monday. Their recent success in drawing in significant capital underscores how closely major investors are watching market moves.
Negative sentiment also spilled over into spot Ether ETFs, which tallied $50.5 million in outflows on Monday. In contrast, there was no new activity reported in XRP and Solana ETFs.
Institutional BTC demand outpaces supply
Bitcoin’s strong performance in April has largely been attributed to institutional demand far exceeding the supply coming from miners. Led by prominent Bitcoin supporter Michael Saylor, Strategy purchased 56,235 BTC so far this April. During the same period, global ETFs added 34,552 BTC on behalf of investors.
According to HODL15Capital, only about 11,829 BTC were newly mined globally throughout April. This figure highlights that institutional buying vastly outstripped available new supply.
Analysts suggest BTC’s recent losses have mostly stemmed from widespread liquidations of leveraged long positions rather than a shift in fundamental spot supply-demand balance. CryptoQuant analyst XWIN Japan notes that such sharp price drops typically point to classic liquidity events rather than structural market weakness.
Earlier research from CryptoQuant indicated that the $80,000 level faces heavy sell pressure and that overcoming this barrier would require significant new momentum. This suggests price headwinds could continue for both ETF investors and large, short-term buyers.
