Bitcoin ETFs saw relatively smaller outflows compared to ether ETFs.

U.S. exchange-traded funds (ETFs) tracking ether (ETH) recorded $401 million in net outflows in March, wiping out the gains from the first two months of 2025.

These redemptions represent nearly 6% of the $6.77 billion in total assets held by spot ether ETFs, according to SoSoValue data. Notably, March 4 was the only day of the month to register inflows, bringing in $14.58 million. In contrast, ether ETFs saw inflows of $101 million in January and $60 million in February.

Spot bitcoin ETFs also experienced withdrawals, with net outflows reaching $893 million this month. However, given the $94.35 billion in assets under management, this amounts to just 0.9%—a much smaller impact. Bitcoin funds remain net positive for the year, following strong inflows of $5.25 billion in January.

The contrast aligns with recent market trends. Since March 1, ether has declined about 8.5%, while bitcoin has gained over 3%. Year-to-date, ether has dropped more than 37% to approximately $2,080, whereas bitcoin has fallen by 7.5% to around $87,300. The broader CoinDesk 20 Index also saw a 21% decline over the same period.

Despite the recent downturn, ether ETFs have still accumulated a net inflow of $2.42 billion since their launch. However, this pales in comparison to the $36.05 billion drawn in by bitcoin ETFs, signaling a stronger institutional preference for BTC over ETH.