Inflows into U.S.-based spot Bitcoin exchange-traded funds (ETFs) saw a significant slowdown on February 5, following ambiguous statements from a key crypto advisor within the Trump administration regarding a proposed national Bitcoin reserve.
According to SoSoValue, spot Bitcoin ETFs accumulated just $66.38 million in net inflows on Wednesday—a sharp 80% drop from the previous day’s impressive $340.82 million. The bulk of these inflows was driven by BlackRock’s IBIT, which attracted $44.35 million. Meanwhile, WisdomTree’s BTCW and Fidelity’s FBTC contributed $11.38 million and $10.65 million, respectively. The remaining nine Bitcoin ETFs reported no net movement.
Despite the drop in inflows, total trading volume for these funds reached $2.04 billion on February 5. Cumulatively, spot Bitcoin ETFs have amassed $40.67 billion in net inflows since their launch.
Trump’s Bitcoin Reserve Plans Trigger Investor Caution
The pullback in ETF inflows is likely linked to uncertainty surrounding former President Donald Trump’s digital asset agenda. His crypto advisor reiterated that evaluating the feasibility of a strategic national Bitcoin reserve remains a priority, but failed to disclose any concrete steps toward implementation.
This lack of clarity has led to a cautious market sentiment among Bitcoin investors. As a result, Bitcoin dipped by 0.4% at the time of reporting, trading at $97,847.
Ethereum ETF Inflows Take a Steeper Hit
Ethereum-based ETFs fared worse, experiencing a severe decline in net inflows. On February 5, total inflows for nine Ethereum ETFs dropped to $18.11 million— a stark contrast to the previous day’s $307.77 million.
Fidelity’s FETH led with $20.06 million in inflows, followed by Grayscale’s mini Ethereum Trust at $5.21 million. In contrast, Grayscale’s larger ETHE fund recorded net outflows of $7.16 million, with the remaining ETFs showing neutral movement.
Since their inception, spot Ethereum ETFs have suffered cumulative outflows of $3.17 billion. Despite this, Ethereum showed resilience, rising 2.5% to trade at $2,835 at the time of reporting.
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