Friday’s outflows marked a sharp move following more than $396 million in withdrawals, which was recorded across Thursday and Friday.
Cumulative net inflows into spot Bitcoin ETFs stand at $55.93 billion, while total net assets have fallen to $84.77 billion from over $90 billion a week earlier. The slowdown was also reflected in trading volume, which dropped to $14.26 billion from $25.87 billion earlier in March.
Ethereum ETFs continue outflows
The outflows extended beyond Bitcoin, with spot Ether ETFs having recorded $206.58 million in weekly outflows, as its second week of losses.
In terms of daily activity, funds saw withdrawals every trading day since March 18, with the largest at $92.54 million on Thursday, followed by $48.54 million on Friday.
Macro pressures weigh in
Bitcoin and Ethereum ETFs are seeing withdrawals as investors remain sensitive to a deteriorating macroeconomic backdrop. After a period of aggressive accumulation, the market has pivoted toward a risk-off stance fueled by a combination of geopolitical instability and sticky inflation.
Bitcoin dropped to a weekly low of around $65,000 earlier in the day while Ethereum briefly fell below the $2,000 mark for the first time in several weeks.
Tensions in the Middle East have acted as a primary catalyst for this volatility. While Bitcoin is often viewed as digital gold, sudden geopolitical shocks in 2026 have triggered a flight to cash and short-term Treasuries.
Concerns around inflation have been further exacerbated by surging oil prices, which recently climbed toward $100 per barrel. Higher oil prices threaten to reignite CPI figures, complicating central bank plans for rate cuts and keeping interest rates higher for longer.