Fidelity's Bitcoin ETF Sees $90.69M Outflow, Investors Reassess Crypto Positions

On May 14, 2025, Bitcoin and Ethereum exchange-traded funds (ETFs) experienced notable outflows, reflecting a shift in investor sentiment. Fidelity's Bitcoin ETF, the Fidelity Wise Origin Bitcoin Fund (FBTC), reported the largest single-day outflow, losing 873 BTC valued at approximately $90.69 million. Despite this significant withdrawal, Fidelity still holds a substantial amount of Bitcoin, totaling 198,247 BTC worth around $20.6 billion.

This outflow from Fidelity contributed to the overall net outflow of 915 BTC across 10 major Bitcoin ETFs. The total Bitcoin held by these funds now stands at 1,172,985 BTC, equivalent to $121.89 billion. Other established Bitcoin ETFs, including the Grayscale Bitcoin Trust (GBTC), also saw exits. GBTC lost 331 BTC on the day and 1,956 BTC over the past week. However, iShares Bitcoin Trust (IBIT), the largest with 625,736 BTC, recorded no daily movement but added 5,204 BTC over the week.

In contrast to the outflows, Valkyrie (BRRR) and Invesco Galaxy (BTCO) saw modest inflows of 89 BTC and 200 BTC, respectively, helping offset losses. Funds from ARK 21Shares, Bitwise, and VanEck remained neutral with no daily changes reported.

Ethereum ETFs experienced even higher weekly pressure compared to their Bitcoin counterparts, logging a combined outflow of 18,129 ETH over the past seven days. On May 14 alone, net outflows reached 1,979 ETH, equivalent to $5.15 million. The Fidelity Ethereum Fund (FETH) led with a weekly exit of 12,489 ETH. Meanwhile, the Grayscale Ethereum Trust (ETHE) saw 3,983 ETH leave in 24 hours, totaling 4,448 ETH out over the week.

Despite losses, ETHE still holds 1,129,089 ETH, worth about $2.94 billion. iShares Ethereum Trust (ETHA), the largest with 1,259,017 ETH, remained unchanged but saw a 7-day outflow of 4,541 ETH. On a positive note for Ethereum ETFs, Franklin’s Ethereum ETF (EZET) reported the strongest single-day inflow of 1,139 ETH. Invesco Galaxy’s QETH followed with 866 ETH. Both marked the only positive flows in the group.

Overall, the nine Ethereum ETFs monitored now hold a combined 3,441,744 ETH, worth approximately $8.95 billion. The outflows from Fidelity and Grayscale ETFs indicate a potential cooling of investor enthusiasm for cryptocurrency ETFs. This shift could be attributed to various factors, including market volatility, regulatory uncertainties, and the overall economic climate. Investors may be reassessing their positions in light of these considerations, leading to the observed outflows.

The outflows from these prominent ETFs highlight the sensitivity of the cryptocurrency market to investor sentiment and external factors. The actions of Fidelity and Grayscale, two of the largest players in the cryptocurrency ETF space, can have a ripple effect on the broader market. Their decisions to allow significant outflows may signal a broader trend of risk aversion among investors, who are opting to move their assets out of cryptocurrency ETFs in favor of more stable investments.

The outflows from Bitcoin and Ethereum ETFs on May 14 underscore the dynamic nature of the cryptocurrency market. Investors are continually evaluating their positions based on market conditions, regulatory developments, and economic indicators. The actions of Fidelity and Grayscale serve as a barometer for investor sentiment, providing insights into the broader trends shaping the cryptocurrency landscape. As the market continues to evolve, it will be crucial for investors to stay informed and adapt their strategies accordingly.