U.S. Spot Bitcoin and Ether ETFs Post Weekly Net Outflows of $296M and $206M

Compiled by Jerry, ChainCatcher Crypto spot ETF flows (last week) U.S. spot Bitcoin ETFs: $296 million net outflow U.S.-listed spot Bitcoin ETFs posted net outflows totaling $296 million over three consecutive sessions, with assets under management at $84.77 billion. Six funds recorded net redemptions, led by BlackRock's iShares Bitcoin Trust (IBIT) with $158 million in net outflows. Source: Farside Investors U.S. spot Ethereum ETFs: $206 million net outflow U.S. spot Ether ETFs saw net outflows of $206 million across five consecutive sessions, with assets under management at $11.32 billion. BlackRock's ETHA accounted for the largest weekly redemption at $285 million. Five spot Ether ETFs finished the week in net outflow. Source: Farside Investors Hong Kong spot ETFs Hong Kong spot Bitcoin ETFs recorded a net inflow of 34.28 BTC, with total net asset value at $271 million. Harvest's Bitcoin holdings fell to 211.52 BTC, while China Asset Management's holdings rose to 2,570 BTC. Hong Kong spot Ether ETFs reported a net outflow of 1,210 ETH, with net asset value at $66.05 million. Source: SoSoValue Crypto spot ETF options (U.S.) As of March 27, total notional volume in U.S. spot Bitcoin ETF options was $885 million, with a notional long-to-short ratio of 1.52. As of March 26, notional open interest stood at $19.64 billion, with a net long-to-short ratio of 1.48. Short-term activity has cooled, while overall sentiment remains bullish. Implied volatility was 54.66%. Source: SoSoValue ETF/ETP news highlights - 21Shares to distribute staking rewards to ETH and SOL ETF investors. The issuer said it will pay $0.01253 per share to holders of its Ethereum fund TETH and $0.016962 per share to holders of its Solana fund TSOL. - Morgan Stanley seeks to price a spot Bitcoin ETF at 0.14%. An amended SEC filing shows a proposed fee of 14 bps, which would be the lowest in the market if approved. Current fees typically run 15–25 bps; the Grayscale Bitcoin Mini Trust ETF charges 0.15%, while larger funds such as BlackRock's IBIT are at 25 bps. - Hashdex broadens its crypto index ETF to seven assets. In its first annual SEC 10-K, Hashdex said the Nasdaq CME Crypto Index ETF (NCIQ) added ADA and LINK to BTC, ETH, XRP, SOL and XLM. - Franklin Templeton partners with Ondo Finance on tokenized ETFs for 24/7 trading in crypto wallets. The product set spans U.S. equities, fixed income and gold, launching first in Europe, Asia-Pacific, the Middle East and Latin America. A U.S. launch awaits greater regulatory clarity on on-chain fund registration. - Bloomberg: Morgan Stanley is set to become the first major U.S. bank to issue and sponsor a Bitcoin ETF. - CoinShares files for a Bitcoin Volatility ETF with ticker CBIX. - Grayscale files an S-1 for the Grayscale HYPE ETF (GHYP). The fund is designed to track the spot price of Hyperliquid (HYPE), list on Nasdaq, and use Coinbase Custody. The filing says staking is not currently available, while leaving room to add it later under certain conditions. Commentary and analysis - Bloomberg ETF analyst James Seyffart: BTC ETFs have recouped about $3 billion since the "1011 crash." He said Bitcoin ETFs previously saw roughly $9 billion in outflows and have since clawed back about $3 billion. Net outflows still exceed $6 billion, but year-to-date flows are close to flat. - Cointelegraph: Goldman Sachs' ~$152 million XRP ETF position hasn't lifted prices; downside risk remains. Disclosures indicate Goldman holds four XRP ETF products: Bitwise XRP ETF (~$39.8 million), Franklin XRP Trust (~$38.5 million), Grayscale XRP ETF (~$38 million) and 21Shares XRP ETF (~$35.9 million). The combined position represents about 73% of holdings among the top 30 institutional investors. Analysts cite cautious sentiment and a bearish-flag breakdown pattern, pointing to potential downside of about 50%, even as institutional allocations suggest longer-term confidence. - CryptoQuant (Darkfost): BTC ETF flows have improved and selling pressure has eased. ETF balances remain negative by about 4,000 BTC but have rebounded materially from a low near 42,000 BTC. Over the past month, net inflows totaled about 38,000 BTC (about $2.6 billion). The durability of this demand rebound will be key to sustaining momentum. - Bloomberg's Eric Balchunas: Morgan Stanley's Bitcoin ETF ($MSBT) has received official listing approval from the NYSE, a step that often signals an imminent launch. - 21Shares CEO Duncan Moir: actively managed crypto ETPs are the next frontier. He cited Morningstar and Goldman Sachs Asset Management data showing global actively managed ETF AUM nearing $1.8 trillion by end-2025. Moir said crypto is well-suited to active management and noted product development could accelerate following FalconX's acquisition of 21Shares in October. He added that European demand remains strong and pointed to a recently launched Europe-listed product linked to Strategy's preferred shares (STRC). The report also flagged staking as a key product trend, noting Grayscale added staking to an ETP in October and BlackRock launched a Nasdaq-listed Ethereum product with staking in March, posting $15.5 million in first-day volume. Wintermute weekly market note Wintermute said Trump announced a five-day pause on strikes against Iran's energy infrastructure, easing geopolitical risk premia. BTC rebounded from $68,000 to above $70,000 as Brent crude fell sharply. The Fed held rates at 3.50%–3.75%; the dot plot showed 14 of 19 officials expect zero or one cut in 2026, and markets have fully priced out any cuts before autumn. BTC fell about 3.4% on the week, with a $708 million single-day ETF outflow tied to the FOMC meeting—the largest in nearly two months. Gold posted its worst weekly performance since 1983, down more than 10%. ETH held up better, with spot Ether ETFs logging a weekly net inflow of $160.8 million, a record. Wintermute said BTC could test resistance at $74,000–$76,000, with an upside scenario toward $80,000 if Strait of Hormuz flows normalize and talks progress. If negotiations fail and transport constraints persist, BTC may retest mid-$60,000 support.