Analytics platform Glasnode says that bitcoin and ether exchange-traded funds have seen a long streak of outflows, indicating that institutional investors have withdrawn from crypto.
Since early November, the 30-day simple moving average of net flows in U.S. spot bitcoin (BTC) and ether (ETH) ETFs has turned negative, according to Glassnode. said On Tuesday
“This persistence suggests a phase of muted participation and partial withdrawal from institutional allocators, reinforcing a broader liquidity contraction in the crypto market,” it added.
Flows into crypto ETFs typically lag behind spot markets for the token, which have been trending since mid-October.
ETFs are also considered a bellwether for institutional sentiment, which has been a market driver for much of this year but appears to have caught on as the broader market agreed.
Crypto ETF selling pressure is back
Overall bitcoin ETF flows have been in the red for the past four trading days, Konglas said. However, BlackRock’s IShares Bitcoin Trust (IBIT) has seen modest inflows over the past week.
“Crypto ETF selling pressure is back,” Kubesi letter. said It reported on Tuesday that crypto funds recorded $952 million in outflows last week, and investors have now withdrawn capital in six of the past ten weeks.
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Despite recent exits, the industry-dominant BlackRock fund has seen $62.5 billion in inflows since launch, eclipsing all rival spot bitcoin ETFs.
Abbott beats gold to flow
IBIT is the only ETF with a negative year-to-date return on Bloomberg’s “2025 Flow Leaderboard,” Bloomberg ETF analyst Eric Balchunas said on Saturday.
“The real benefit is that it was sixth despite the negative returns,” he added.
Balchunas said BlackRock’s flagship bitcoin fund gained even more than the SPDR Gold Shares Fund (GLD), which is up 64 percent.
“That’s a really good sign long-term IMO. If you can do $25 billion in a bad year, imagine the flow potential in a good year.”
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