US-listed spot Bitcoin exchange-traded funds (ETFs) recorded significant outflows on Monday, even as Bitcoin climbed above $74,000.
Spot Bitcoin ETFs saw $291 million in net outflows—the largest daily withdrawal since March 27—according to SoSoValue data.
The bulk of the selling came from the Fidelity Wise Origin Bitcoin Fund, which accounted for $229 million in outflows, based on Farside figures.
This pullback came as Bitcoin rose roughly 5% to approach four-week highs near $75,000, interrupting what had otherwise been a period of strengthening flows into US-listed ETFs. The weakness, however, appeared concentrated in a few funds rather than broad-based across the sector.
The divergence suggests a degree of caution among investors, with broader market sentiment still mixed and some analysts warning of a potential drop toward $50,000 before a sustained recovery.
BlackRock extends inflow streak
Despite the overall negative flows, some ETFs continued to attract capital. BlackRock recorded about $35 million in inflows on Monday, extending its streak to four consecutive days and bringing total inflows over that period to approximately $482 million.
The Morgan Stanley Bitcoin Trust ETF was also among the funds extending a four-day inflow streak. Since its launch on April 8, the ETF has attracted approximately $68 million in inflows.
With the latest losses, US-listed spot Bitcoin ETFs have slipped back into negative territory for the year, recording roughly $160 million in net outflows year-to-date.
Altcoin ETFs hold steady
Meanwhile, altcoin-focused funds have remained in positive territory, starting the week with modest gains.
Spot Ether ETFs saw $9.4 million in inflows, marking a third consecutive day of positive flows and bringing total inflows over that period to around $160 million.
Funds tracking XRP saw $1.5 million in inflows, while Solana-based funds recorded no new capital.
On Tuesday, the Crypto Fear & Greed Index climbed above 20 for the first time since March 19, indicating a slight improvement in sentiment as Bitcoin prices surged. However, with a reading of 21, the index remains firmly in “extreme fear” territory.
According to analysts at CryptoQuant, while underlying market conditions are showing signs of improvement, a sustained rally will likely depend on fresh capital entering derivatives markets. Rising open interest, they noted, would be a key signal confirming the strength and durability of the uptrend.
