Assets in Bitcoin (BTC) spot ETFs fell below $100 billion on Tuesday following the outflow of a recent $272 million.
According to data for SoSoValue, the move marked the first time spot bitcoin ETF assets under management fell below this level since April 2025, after peaking at around $168 billion in October.
The decline comes amid a broader sell-off in the cryptocurrency market that saw Bitcoin fall below $74,000 on Tuesday. The global cryptocurrency market capitalization dropped from $3.11 trillion to $2.64 trillion over the last week, According to this CoinGecko.
Altcoin funds provide modest inflows
The latest outflows from spot Bitcoin ETFs follow a brief rebound on Monday, when the products attracted $562 million in net inflows.
Still, Bitcoin funds resumed losses on Tuesday, pushing year-to-date outflows to nearly $1.3 billion, in line with continued market volatility.
Meanwhile, altcoin-tracking ETFs such as Ether (ETH), XRP (XRP), and Solana (SOL) saw modest inflows of $14 million, $19.6 million, and $1.2 million, respectively.
Does institutional adoption extend beyond ETFs?
The ongoing Bitcoin ETF selloff comes as BTC is trading below the ETF’s $84,000 creation cost basis, suggesting recent ETF shares are being issued at a loss and putting pressure on fund flows.
Market observers say the decline is unlikely to trigger further massive sell-offs in ETFs.
“My guess is that the vast majority of assets in BTC spot ETFs remain no matter what,” ETF analyst Nate Geraci wrote in X on Monday.
Thomas Restout, CEO of institutional liquidity provider B2C2, agreed, noting that institutional investors in ETFs have generally been resilient. Still, he suggested there may be a shift toward onchain trading.
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“The benefit of institutions coming in and buying ETFs is that they are much more resilient. They will stick to their views and positions longer,” Restout he said on Monday’s Rulematch Spot On podcast.
“I think the next level of transformation will be institutions actually trading cryptocurrencies, not just using securitized ETFs. We expect the next wave of institutions to directly trade the underlying assets,” he noted.
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