Spot Bitcoin exchange-traded funds (ETFs) have dropped below $100 billion in assets under management, hitting a new annual low after significant investor withdrawals. The $272 million in outflows on Tuesday contributed to a total nearing $1.3 billion year-to-date, aligning with a broader crypto market decline. While Bitcoin ETFs faced continued pressure, funds for altcoins like Ether and XRP saw modest inflows. Analysts note that institutional ETF investors are likely to remain resilient despite current volatility.
Spot Bitcoin ETFs have seen their assets under management fall below $100 billion for the first time since April 2025. This decline followed a fresh $272 million in outflows on Tuesday, according to data from SoSoValue.
The drop coincided with a broader cryptocurrency market sell-off that saw Bitcoin trade below $74,000. The global cryptocurrency market capitalization fell from $3.11 trillion to $2.64 trillion over the past week, according to CoinGecko.
These latest outflows followed a brief rebound on Monday, when the products attracted $562 million in net inflows. Year-to-date outflows for Bitcoin funds now total almost $1.3 billion.
In contrast, ETFs tracking altcoins such as Ether, XRP, and Solana recorded modest inflows. These inflows were $14 million, $19.6 million, and $1.2 million, respectively.
The ongoing sell-off occurs as Bitcoin trades below the ETF creation cost basis of $84,000. This situation suggests new ETF shares are being issued at a loss, placing pressure on fund flows.
Market observers say the slump is unlikely to trigger further mass sell-offs in ETFs. “My guess is vast majority of assets in spot BTC ETFs stay put regardless,” ETF analyst Nate Geraci wrote.
Thomas Restout, CEO of institutional liquidity provider B2C2, echoed the sentiment regarding investor resilience. “The benefit of institutions coming in and buying ETFs is they’re far more resilient. They will sit on their views and positions for longer,” Restout said in a recent podcast.
He also hinted that a shift toward direct onchain trading may be underway for institutions. “I think the next level of transformation is institutions actually trading crypto, rather than just using securitized ETFs,” Restout noted.
