According to LeConchine Data As of January 10, Bitcoin and Ethereum ETFs saw significant outflows, reflecting cautious investor sentiment.

Bitcoin exchange-traded funds saw a net outflow of 2,152 BTC (about $201.21 million), with Fidelity contributing to this with an outflow of 2,752 BTC ($257.26 million). Despite this, Fidelity continues to hold 205,488 Bitcoin worth $19.21 billion.

Likewise, Ethereum ETFs generated a net outflow of 45,684 ETH ($148.11 million), mainly driven by Fidelity, which accounted for 44,998 ETH ($145.88 million).

Fidelity's Ethereum holdings now stand at 415,503 ETH, worth $1.35 billion. These movements indicate a recalibration of holdings, perhaps influenced by market conditions or strategic rebalancing as investors navigate early 2025 trends.

like Covered By U.Today, Fidelity showed its dominance in the Bitcoin ETF space, surpassing BlackRock in weekly net inflows.

BlackRock beats Fidelity in Bitcoin exchange-traded fund

The development comes on the heels of a difficult period for BlackRock, which saw two large bitcoin inflows in December – the largest since the ETF was created.

Fidelity's strong accumulation highlights its commitment to strengthening its position in the cryptocurrency ETF market, indicating growing institutional interest and competition in this rapidly evolving sector.

Eric Balchunas, a senior ETF analyst at Bloomberg, provided a balanced perspective on the recent large inflows from Bitcoin ETFs. Although he acknowledged the historical magnitude of these declines, Balchunas viewed them as normal and long overdue after a period of sustained growth.

Bitcoin ETFs are unlikely to maintain their previous pace of expansion indefinitely, he noted, stressing that the drawdowns, while surprising to some, signal a market turnaround more than a reversal.

Balchunas likened the situation to a “break” in a long journey, a normal stop in a path moving forward, which enhances the resilience of the Bitcoin ETF market despite temporary setbacks.