17-4-2025 – American spot bitcoin exchange-traded funds witnessed a substantial reversal of fortune on Wednesday, with withdrawals totalling $169.9 million, marking the end of a brief positive streak.
The market dynamics proved particularly challenging for industry heavyweights, with Fidelity’s FBTC and the collaborative venture between Ark and 21Shares experiencing the most significant capital exodus. These two funds shouldered the entirety of the day’s outflows, whilst their counterparts maintained a more favourable position.
Amidst this mixed landscape, several funds demonstrated resilience, with BlackRock’s IBIT emerging as a beacon of stability. The fund, which holds the crown for largest spot bitcoin ETF by net assets, attracted fresh capital of $30.6 million. Bitwise’s BITB similarly demonstrated investor confidence, securing $12.8 million in new investments.
The cryptocurrency market itself displayed remarkable buoyancy, with Bitcoin briefly touching the $85,000 threshold before settling at $84,687, marking a 1.41% appreciation over 24 hours. Ethereum’s native token, Ether, demonstrated even more robust performance, advancing 1.79% to reach $1,600.
In the broader financial context, market participants remain watchful of escalating Sino-American trade tensions, with Washington contemplating significant tariff increases of up to 245% on Chinese exports.
The ethereum ETF segment continues to face headwinds, extending its challenging run to a full week, with Wednesday recording $12 million in outflows. This pattern marks the seventh consecutive day of negative flows for these particular investment vehicles.
This market movement follows a brief period of optimism earlier in the week, when the dozen ETFs collectively attracted $76.4 million on Tuesday, following Monday’s more modest $1.5 million inflow.
