US-listed spot Bitcoin ETFs recorded $291 million of outflows on Monday even as Bitcoin climbed above $74,000, the largest single-day withdrawal since March 27, according to SoSoValue. The selling was concentrated in the Fidelity Wise Origin Bitcoin Fund (FBTC), which led outflows with roughly $229 million, per Farside.
Bitcoin gained about 5% on Monday, reaching four-week highs near $75,000, but the sizable withdrawals interrupted what had been a generally firmer period for US spot Bitcoin ETFs. The weakness was concentrated in a small number of funds rather than broad-based, suggesting some investors are taking a cautious stance. Several analysts have cautioned that Bitcoin could retest lower levels — as low as $50,000 — before a sustained rally takes hold.
BlackRock’s spot Bitcoin ETF logged about $35 million of inflows on Monday, extending a four-day inflow streak that totals roughly $482 million. The Morgan Stanley Bitcoin Trust ETF (MSBT), which launched on April 8, has attracted around $68 million since its debut. After Monday’s net redemptions, spot Bitcoin ETFs are slightly negative year-to-date, with about $160 million in net outflows.
Altcoin-focused funds showed more stability. Spot Ether ETFs saw $9.4 million of inflows, marking a third consecutive day of gains and roughly $160 million in inflows over that period. XRP funds added about $1.5 million, while Solana funds reported no inflows.
Market sentiment indicators remain cautious. The Crypto Fear & Greed Index climbed to 21 on Monday, its first reading above 20 since March 19, but it still sits in the “extreme fear” zone. CryptoQuant analysts observed that, although some on-chain and market signals appear healthier, a durable upside will likely require fresh capital returning to derivatives markets and a rise in open interest to confirm momentum.
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