Investor apprehension continues to impact cryptocurrency exchange-traded funds (ETFs), as bitcoin funds experienced net withdrawals of $371 million on Tuesday, March 11, marking the seventh straight day of exits.
Ether ETFs also encountered significant redemptions, logging $22 million in outflows over five consecutive days, according to data from Sosovalue.
The most substantial outflows in the bitcoin ETF sector originated from BlackRock’s IBIT, which saw a pullback of $151.26 million, trailed by Fidelity’s FBTC with $107.10 million in net redemptions.
Grayscale’s GBTC reported considerable losses, offloading $35.49 million. Other funds facing withdrawals included Franklin’s EZBC ($33.73 million), WisdomTree’s BTCW ($15.43 million), and Invesco’s BTCO ($14.93 million).
- Uganda Launches Fresh Licensing Exercise for Labour Export Agencies: What Workers Need to Know
Uganda has announced a mandatory re-licensing process for all labour export agencies as part of reforms aimed at improving transparency, protecting migrant workers, and strengthening industry oversight. - U.S. Announces 25% Tariffs on Brazilian Imports: What It Means for Global Trade
The United States has introduced a 25% tariff on selected Brazilian imports, citing unfair trade practices. Discover what the decision means for global trade, businesses, and consumers. - Cambodia ‘s Civil Service Modernization: How Government Reform Could Shape the Nation’s Future
Discover how Cambodia ‘s civil service modernization aims to improve public services, embrace digital transformation, boost transparency, and support long-term economic growth. Cambodia’s Civil Service Modernization: A New Era for Public Administration Cambodia is taking important steps toward modernizing its public administration as part of a broader effort to improve government efficiency, strengthen institutional performance,… Read more: Cambodia ‘s Civil Service Modernization: How Government Reform Could Shape the Nation’s Future - Canada Faces a Critical Week as Public Safety, Wildfires, and Trade Dominate National Headlines
Canada’s latest headlines include a tragic Toronto shooting, worsening wildfire conditions, trade developments, and progress on major infrastructure projects. - Microsoft Cuts Thousands of Jobs as AI Reshapes the Tech Industry
Microsoft is cutting thousands of jobs as it expands its AI strategy. Learn why the company is restructuring, which teams are affected, and what it means for the future of work.
In the ether ETF arena, BlackRock’s ETHA led the exodus, losing $11.82 million, while Fidelity’s FETH noted $9.75 million in pullouts.
The persistent outflows, now extending a full week for bitcoin ETFs and five days for ether ETFs, indicate a reassessment of risk or profit-taking strategies among investors. Over the last three days alone, bitcoin ETFs have witnessed more than $300 million in redemptions, while ether ETFs have consistently dealt with outflows surpassing $20 million.