Bitcoin spot ETFs have struggled since the start of 2025, but outflows hit new highs in March. Data from SoSoValue shows that total outflows from 12 listed Bitcoin ETFs reached $799.39 million and $870.39 million.
Major Outflows From BlackRock and Fidelity
BlackRock’s IBIT and Fidelity’s FBTC saw significant outflows, according to CoinGlass. IBIT’s holdings have fluctuated, and Fidelity is also losing its stake.
IBIT leads in market cap at $48.16 billion, followed by FBTC at $16.53 billion, GBTC at $16.41 billion, and ARKB at $3.72 billion. Despite the losses, IBIT remains the top performer by volume at $2.13 billion, followed by FBTC at $327.07 million and BITO at $94.50 million.
The total Bitcoin spot ETF market cap stands at $94.70 billion, with total assets under management (AUM) at $91.49 billion. GrayScale’s spot ETF continues to see steady outflows, with $16.40 billion in AUM.
Ethereum Spot ETFs Also Under Pressure
Ethereum spot ETFs have followed a similar downward trend. GrayScale’s Ether ETF experienced heavy outflows, with $46.9 million on March 14, $73.6 million on March 13, and $10.3 million on March 12.
Broader crypto market weakness has compounded the problem. Ethereum is trading below $2,000 and under its 20-, 50-, 100-, and 200-day exponential moving averages. Ether prices have dropped 30% in a month and over 46% in the past year. As of publication, Ethereum’s market cap was $229.24 billion, with a 24-hour trading volume of $10.14 billion — a 36.49% increase.
Experts point to a lack of positive market catalysts despite hopes that Donald Trump’s election win would lift crypto sentiment.