Bitcoin ETFs Bleed $291M Despite BTC Hitting Four-Week High Above $74K
Iris Coleman Apr 14, 2026 10:39
Fidelity's FBTC led Monday's $291M Bitcoin ETF outflows while BlackRock extended its inflow streak to four days. What's driving the divergence?
Spot Bitcoin ETFs hemorrhaged $291 million on Monday even as BTC rallied 5% to breach $74,000 for the first time in four weeks—a divergence that reveals just how fractured institutional sentiment has become.
The outflows, the largest single-day exodus since March 27 according to SoSoValue data, were dominated by one fund: Fidelity's Wise Origin Bitcoin Fund (FBTC) accounted for $229 million of the selling. That's nearly 79% of the day's total redemptions coming from a single product.
BlackRock Swimming Against the Tide
Here's where it gets interesting. While Fidelity investors headed for the exits, BlackRock's iShares Bitcoin Trust quietly extended its inflow streak to four consecutive days, pulling in roughly $35 million on Monday. Total inflows over that stretch: $482 million.
Morgan Stanley's newly launched Bitcoin Trust ETF (MSBT) has also defied the broader trend, attracting approximately $68 million since its April 8 debut.
The concentration of outflows in specific funds rather than broad-based selling suggests this isn't panic—it's repositioning. Some large holders are clearly taking profits on the rally while others are building positions.
The Numbers That Matter
With Monday's losses, spot Bitcoin ETFs have flipped negative year-to-date, now sitting at roughly $160 million in cumulative outflows for 2026.
Ether ETFs told a different story, recording $9.4 million in inflows and extending their winning streak to three days totaling around $160 million. XRP funds added a modest $1.5 million while Solana products saw zero activity.
Bitcoin currently trades at $74,543 as of Tuesday morning, down about 1% over 24 hours after Monday's surge. The Crypto Fear & Greed Index crawled above 20 for the first time since March 19—still firmly in "extreme fear" territory, but showing signs of thawing.
What Needs to Happen Next
CryptoQuant analysts are flagging a critical missing ingredient for sustained upside: derivatives market participation. Open interest needs to climb to confirm this rally has legs beyond spot buying.
Key levels to watch: resistance clusters around $75,000-$76,000, with support established in the $70,000-$72,000 range. Some analysts remain cautious, warning BTC could still retest $50,000 before any durable trend emerges.
The ETF flow divergence between Fidelity and BlackRock bears monitoring. If BlackRock's streak continues while Fidelity stabilizes, that would signal the profit-taking wave has run its course. Another day of concentrated FBTC outflows? That's a different conversation entirely.
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