U.S. spot bitcoin and ether exchange-traded funds (ETFs) posted a combined net outflow of around $713 million on Tuesday, amid the ongoing macro-led market turmoil.
According to data from SoSoValue, spot bitcoin ETFs recorded a total daily net outflow of $483.4 million on Tuesday across eight funds. Grayscale’s GBTC led the outflows with $160.8 million exiting the fund, followed by Fidelity’s FBTC, which posted $152 million in outflows. The latest figures extend last Friday’s selling pressure, when spot bitcoin ETFs recorded $395 million in net outflows.
Spot Ethereum ETFs recorded $230 million in net outflows across six funds, marking the end of a five-day streak of positive flows. BlackRock’s ETHA shed $92.3 million yesterday.
The net outflows come amid a broader crypto market drawdown, with bitcoin falling below $89,000 earlier today after climbing above $97,000 just a week ago. Ether price is also down, trading below the $3,000 level.
The downturn has been widely attributed to ongoing macroeconomic and geopolitical uncertainty, as the trade dispute between the U.S. and the EU over control of Greenland shows little sign of resolution. Presto Research Head of Research Peter Chung told The Block that Japanese investors’ panic selling of government bonds also impacted global liquidity, weighing on equities and cryptocurrencies.
Optimistic outlook
“Trump’s tariff threats over Greenland was not well received by the market,” said Jeff Mei, COO at BTSE. “However, many still believe that, as in the past, Trump will water down his threats to avoid too much damage to global markets.”
Mei added that traders are closely watching how Europe will respond to Trump’s tariff threats, and whether the situation as a whole will escalate. The analyst predicted that the chances of Europe caving in to Trump’s demands are slim.
Meanwhile, LVRG Research Director Nick Ruck said the outflows reflect a temporary institutional derisking driven by geopolitical tensions, rather than a rejection of crypto’s long-term value proposition.
“We view the current crypto market as in a healthy consolidation phase following early 2026 volatility with strong underlying institutional infrastructure firmly established and potential for renewed inflows once clearer macro signals emerge,” Ruck said.
On Tuesday, spot XRP ETFs mirrored bitcoin and ether counterparts, reporting $53.3 million in net outflows. This is the XRP funds’ largest single-day outflow yet. Spot Solana ETFs, on the other hand, saw $3 million in net inflows for the day.
© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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