Outflows from U.S. Bitcoin ETFs intensify…assets under management fall below $100bn

Outflows from U.S. spot Bitcoin (BTC) exchange-traded funds (ETFs) have accelerated, pushing net assets under management (AUM) below $100 billion.

As of the 4th (local time), data from SoSoValue showed spot Bitcoin ETF AUM at roughly $97 billion. It is the first time since April last year—about 10 months—that spot Bitcoin ETF AUM has fallen below $97 billion. A net outflow of $270 million on the previous day (the 3rd) delivered a direct hit.

Spot Bitcoin ETFs posted net monthly outflows for three consecutive months from November last year through last month. It is the first time since their 2024 launch that spot Bitcoin ETFs have recorded three straight months of net outflows on a monthly basis.

The outflow trend in spot Bitcoin ETFs has coincided with the recent downturn in the crypto market. According to CoinGecko, total crypto market capitalization has shed $470 billion (about KRW 680 trillion) over the past week. Cointelegraph reported that “the decline (in spot Bitcoin ETF AUM) occurred amid broad-based selling across the crypto market.”

Still, analysts say it is unlikely that ETF outflows will translate into large-scale selling pressure. Nate Geraci, CEO of U.S. asset manager NovaDius Wealth Management, wrote on X that “a significant share of current Bitcoin ETF holders has moved into unrealized loss territory,” adding that “because most ETF investors are medium- to long-term holders, the likelihood of immediate large-scale redemptions or selling pressure is limited.”