Fidelity and Grayscale Lead Outflows as Bitcoin and Ethereum ETFs See Red on May 14

Bitcoin and Ethereum exchange-traded funds (ETFs) recorded net outflows on May 14, 2025, according to data from Lookonchain.

This combined pullback from crypto ETFs reflects a degree of investor caution or profit-taking, despite generally strong holdings remaining across these top investment vehicles.

Fidelity Bitcoin ETF Sees Major Withdrawal

The Fidelity Wise Origin Bitcoin Fund (FBTC) reported the largest single-day outflow, shedding 873 $BTC worth around $90.69 million. Despite the dip, Fidelity still holds 198,247 $BTC, valued at roughly $20.6 billion.

This drop contributed to the overall net outflow of 915 $BTC across 10 major Bitcoin ETFs. The total Bitcoin held by these funds now stands at 1,172,985 $BTC, equivalent to $121.89 billion.

Bitcoin ETF Daily Flows: Fidelity and Grayscale See Outflows. Source: Lookonchain on X

Other established Bitcoin ETFs, including the Grayscale Bitcoin Trust (GBTC), also saw exits. GBTC lost 331 $BTC on the day and 1,956 $BTC over the past week. However, iShares Bitcoin Trust (IBIT), the largest with 625,736 $BTC, recorded no daily movement but added 5,204 $BTC over the week.

In contrast to the outflows, Valkyrie (BRRR) and Invesco Galaxy (BTCO) saw modest inflows of 89 $BTC and 200 $BTC, respectively, helping offset losses. Funds from ARK 21Shares, Bitwise, and VanEck remained neutral with no daily changes reported by Lookonchain.

Ethereum ETFs Suffer Deeper Weekly Outflow Pressure

Ethereum ETFs experienced even higher weekly pressure compared to their Bitcoin counterparts, logging a combined outflow of 18,129 $ETH over the past seven days. On May 14 alone, net outflows reached 1,979 $ETH, equivalent to $5.15 million.

Ethereum ETF Outflows Surge Led by Grayscale and Fidelity. Source: Lookonchain on X

The Fidelity Ethereum Fund (FETH) led with a weekly exit of 12,489 $ETH. Meanwhile, the Grayscale Ethereum Trust (ETHE) saw 3,983 $ETH leave in 24 hours, totaling 4,448 $ETH out over the week.

Despite losses, ETHE still holds 1,129,089 $ETH, worth about $2.94 billion. iShares Ethereum Trust (ETHA), the largest with 1,259,017 $ETH, remained unchanged but saw a 7-day outflow of 4,541 $ETH.

On a positive note for Ethereum ETFs, Franklin’s Ethereum ETF (EZET) reported the strongest single-day inflow of 1,139 $ETH. Invesco Galaxy’s QETH followed with 866 $ETH. Both marked the only positive flows in the group.

Overall, the nine Ethereum ETFs monitored by Lookonchain now hold a combined 3,441,744 $ETH, worth approximately $8.95 billion.

The Lookonchain crypto ETF data suggests investors appear to be rotating capital or locking in profits, while waiting for stronger, more definitive signals from the broader crypto market.