Bitcoin ETFs See $349 Million in Outflows as Crypto Market Sentiment Turns Risk-Off

AltcoinsBitcoin

Spot crypto exchange-traded funds recorded broad outflows on March 6 as institutional demand weakened alongside a wider pullback in digital assets.

Key Takeaways

Bitcoin ETF Outflows: Spot Bitcoin ETFs recorded about $348.9 million in net outflows, marking one of the largest withdrawals in recent weeks.
Ethereum Funds Turn Negative: Ethereum ETFs saw roughly $82.9 million in redemptions during the session.
Altcoin ETF Weakness: Solana and XRP ETFs posted outflows of about $8.6 million and $16.6 million, respectively.
Market Sentiment Drops: The crypto market cap fell to around $2.33 trillion as the Fear & Greed Index slipped into extreme fear territory.

Bitcoin-focused funds led the withdrawals, while products tracking Ethereum, Solana and XRP also posted net redemptions.

Bitcoin ETFs – BTC Price Around $67,900

Spot Bitcoin ETFs recorded approximately $348.9 million in net outflows, marking one of the largest daily withdrawals in recent weeks.

The largest redemptions came from **BlackRock’s iShares Bitcoin Trust and **Fidelity Investments’ Wise Origin Bitcoin Fund. Other issuers including ARK Invest, Bitwise, and VanEck also saw funds exit their products.

Bitcoin traded near $67,900, down more than 3% over the past 24 hours, reflecting broader weakness in digital assets.

Ethereum ETFs – ETH Price Near $1,980

Funds tracking Ethereum also turned negative, with roughly $82.9 million in outflows across spot Ethereum ETFs.

The largest withdrawals were seen from funds issued by Fidelity Investments, while several other issuers recorded smaller redemptions.

Ethereum was trading around $1,980, extending losses as investor risk appetite weakened.

Solana ETFs – SOL Price Around $84

Investment products linked to Solana posted about $8.6 million in net outflows.

Although significantly smaller than Bitcoin and Ethereum withdrawals, the outflows suggest investors are trimming exposure across multiple crypto investment vehicles.

Solana traded near $84, down roughly 2–3% during the session.

XRP ETFs – XRP Price Near $1.36

Funds tracking XRP recorded approximately $16.6 million in net outflows, adding to the broader trend of capital leaving crypto-linked funds.

XRP changed hands around $1.36, reflecting a modest decline amid the wider market pullback.

Market Sentiment Weakens

The ETF outflows occurred as the total cryptocurrency market capitalization dropped to roughly $2.33 trillion. The widely watched Crypto Fear & Greed Index also slipped into extreme fear territory, signaling rising caution among investors.

Despite the recent pullback, Bitcoin remains up nearly 6% over the past week, highlighting the volatility that continues to characterize the digital asset market.

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Author

Alexander Zdravkov is a person who always looks for the logic behind things. He has more than 3 years of experience in the crypto space, where he skillfully identifies new trends in the world of digital currencies. Whether providing in-depth analysis or daily reports on all topics, his deep understanding and enthusiasm for what he does make him a valuable member of the team.