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U.S. spot Bitcoin exchange-traded funds (ETFs) have witnessed one of their steepest withdrawal streaks ever, with investors pulling over $2 billion from the funds in just six trading days. According to Farside data, this marks the second-worst outflow streak on record, reflecting renewed caution among institutional investors as Bitcoin hovers near the $100,000 level.
On Wednesday, Bitcoin ETFs logged another $137 million in redemptions, extending the losing streak that began on October 29. The heaviest withdrawals occurred on Tuesday, when $566 million exited the funds, following earlier sessions that saw outflows of $470 million, $488 million, and $191 million.
This wave of withdrawals trails only the February sell-off earlier this year, when investors withdrew over $3.2 billion in a single week, including record-breaking daily outflows of $1.11 billion and $757.8 million.
Investor Caution Grows as Macro Risks Mount
The persistent outflows highlight a broader cooling in institutional sentiment toward Bitcoin ETFs. Analysts suggest that macroeconomic uncertainty and recent comments from U.S. Federal Reserve officials have prompted traders to scale back exposure to risk assets.
The dollar’s recent rebound, combined with heightened volatility across global markets, has also pressured Bitcoin’s short-term momentum. While the cryptocurrency remains near the psychologically important $100,000 level, its performance has been weighed down by falling ETF demand and a reduction in leveraged positions across major exchanges.
Ethereum ETFs See $118.5 Million in Outflows
The bearish trend extended to Ethereum ETFs, which recorded $118.5 million in net outflows on Wednesday. The move marked the sixth consecutive day of redemptions, bringing total withdrawals for the week close to $1.2 billion.
BlackRock’s ETHA fund led the day’s withdrawals with $146.6 million in redemptions, while Bitwise’s ETHW and VanEck’s ETHV products remained stable. Despite the recent downturn, total cumulative inflows into Ether ETFs remain above $13.9 billion, indicating that long-term institutional interest in Ethereum remains intact, even as short-term profit-taking continues.
Solana ETFs Buck the Trend with Seven Straight Days of Inflows
While Bitcoin and Ethereum ETFs faced sustained redemptions, Solana ETFs stood out with continued buying interest. Solana products attracted another $9.7 million in inflows on Wednesday, extending their seven-day streak of net additions.
Since their debut, Solana ETFs have accumulated a total of $294 million in net inflows — a notable contrast to the outflows seen in larger-cap crypto ETFs. Analysts attribute this to Solana’s growing adoption in decentralized finance (DeFi) and the broader enthusiasm surrounding its ecosystem performance in 2025.
Broader Macro Context: Supreme Court Tariff Case Adds Uncertainty
Adding to market turbulence, the U.S. Supreme Court has begun hearings on former President Donald Trump’s use of the International Emergency Economic Powers Act (IEEPA) to impose tariffs. The proceedings have sparked concern about the future scope of presidential trade authority.
Several justices expressed skepticism about the broad powers granted under the IEEPA, raising the possibility of future restrictions on executive tariff policies.
According to a note from Bitunix, a ruling against Trump’s previous tariff actions might not entirely eliminate trade risks, as alternative statutes could still sustain import duties. The firm estimates that if existing tariffs are overturned, the U.S. average tariff rate could fall to 6.5%, providing a modest boost to GDP but potentially worsening fiscal imbalances.
“Judicial risk is beginning to seep into macro liquidity expectations,” Bitunix wrote. “The dollar has strengthened as investors seek safe-haven assets, while Bitcoin remains under pressure near $100,000.”
Outlook: ETF Flows Reflect a Shift in Institutional Sentiment
The latest data paints a mixed picture for digital asset funds. While Bitcoin and Ethereum ETFs face significant short-term headwinds, Solana ETFs continue to attract steady inflows, suggesting selective optimism among investors.
Analysts say the ETF outflows may not necessarily indicate long-term pessimism but rather a tactical repositioning amid macro uncertainty. If Bitcoin stabilizes above key support levels, renewed inflows could resume, especially if risk appetite returns in global markets.
For now, the $2 billion ETF outflow streak underscores the challenges facing crypto markets in late 2025, as traders weigh inflation concerns, interest rate policies, and shifting institutional strategies.
