After More Than a Week of Uninterrupted Gains, Both Bitcoin and Ether ETFs Saw Net Outflows on Wednesday, April 30

After more than a week of uninterrupted gains, both bitcoin and ether ETFs experienced net outflows on Wednesday, April 30, pausing the recent bullish streak. Bitcoin ETFs saw a $56 million outflow, while ether ETFs saw a smaller $2.36 million outflow.

The bitcoin ETF party took a pause on Wednesday, April 30, as the cryptocurrency’s exchange-traded funds (ETFs) posted net outflows, snapping an 8-day run of inflows that had been filling the news and stirring optimism across the crypto markets.

The latest data from DEFI STATIONS showed bitcoin ETFs experiencing a $56.23 million outflow. Among the major players, Fidelity’s FBTC saw the largest withdrawal with $137.49 million, closely followed by Ark 21shares’ ARKB with $130.79 million. Grayscale’s GBTC and Bitwise’s BITB also contributed to the exodus with outflows of $31.96 million and $23.02 million, respectively.

Despite a robust $267.02 million inflow into Blackrock’s IBIT, the fund’s strength wasn’t enough to counterbalance the broader losses. Trading volume stood at $2.39 billion, while total net assets dipped to $108.58 billion.

In the realm of ether ETFs, a small $2.36 million net outflow was observed after four consecutive days of inflows. A $7.13 million exit from Grayscale’s ETHE and a $1.02 million outflow from Bitwise’s ETHW contributed to the shift. However, Fidelity’s FETH brought in $5.08 million, partially easing the downturn.

Total trading activity in ether ETFs came in at $176.42 million, with net assets closing slightly lower at $6.17 billion.

The question remains: does this pullback signal a broader shift or just a brief pause? Only time will tell as the crypto market continues to be written in the moment.