The US-based spot Bitcoin exchange-traded funds saw another phase of outflows as the demand for the leading crypto asset declined.
The short-lived spot Bitcoin BTC $105 304 24h volatility: 0.2% Market cap: $2.09 T Vol. 24h: $14.71 B ETF inflows came to an end as the leading cryptocurrency slips below the $80,000 mark.
Spot BTC ETFs in the US recorded a net outflow of $143.3 million on March 13, ending the one-day $13.3 million inflows of March 12, according to data provided by SoSoValue. The total trading volume of these investment products surpassed $2.5 billion.
Fidelity’s FBTC fund led with $75.5 million in outflows, followed by ARK 21Shares’ ARKB ETF, which had an outflow of $60.2 million. WisdomTree’s BTCW and Grayscale’s GBTC also witnessed outflows of $14.5 million and $12.7 million, respectively.
BITB, BRRR and EZBC joined the bloodbath with a cumulative outflow of roughly $26 million, according to SoSoValue.
On the other hand, BlackRock’s IBIT ETF defied the bearish selloff with an inflow of $45.7 million after five trading days of consecutive outflows.
The US-based spot Ethereum BTC $105 304 24h volatility: 0.2% Market cap: $2.09 T Vol. 24h: $14.71 B ETFs continued their downward momentum with a net outflow of $73.6 million, marking the seventh consecutive day of outflows for the investment products based on the leading altcoin.
These outflows have triggered a sideways momentum for the top two cryptocurrencies, BTC and ETH, as investors take a cautious approach to the asset class.
Bitcoin Demand Is Stuck
Bitcoin’s consolidation could be due to the lack of intense individual and institutional demand, Ki Young Ju, the CEO of the crypto analytics platform CryptoQuant, wrote on X.
According to Young Ju’s X post, Bitcoin’s apparent demand, an indicator showing the difference between BTC’s mining issuance and the change in supply inactive for a year, has significantly decreased since reaching an ATH of $109,000 in January 2025.
The chart shows that spikes in Bitcoin’s apparent demand have been associated with strong bullish momentum. In the current situation, a price consolidation would be expected unless a major catalyst pushes the BTC price.
According to CoinMarketCap, Bitcoin is down by 1.2% in the past 24 hours and is trading around $82,300 at the time of writing. The BTC daily trading volume also decreased by $22%, reaching $29 billion.