US spot Bitcoin and Ethereum exchange-traded funds (ETFs) extended their losing streak Monday, marking another day of outflows as investor sentiment remained fragile amid mounting political and macroeconomic uncertainty.
According to data from SoSoValue, spot Bitcoin (BTC) ETFs recorded $40.47 million in net outflows on Monday, their fourth consecutive day of withdrawals. BlackRock’s IBIT led the losses, shedding $100.65 million, while Fidelity’s FBTC and Bitwise’s BITB posted inflows of $9.67 million and $12.05 million, respectively.
The cumulative total net inflow in spot Bitcoin ETFs now stands at $61.50 billion, with total net assets slipping to $149.66 billion, or about 6.76% of Bitcoin’s market capitalization.
Spot Ether (ETH) ETFs saw a similar pattern, logging $145.68 million in daily net outflows, their third straight session of red. BlackRock’s ETHA saw the largest single-day withdrawal of $117.86 million, followed by Fidelity’s FETH, which lost $27.82 million.
Related: Bitcoin ETFs shed $1.2B in red week, but Schwab remains bullish
“No Kings” protests sweep the US
The continued outflows come amid growing political unrest in the US. On Sunday, as the US government shutdown entered its 18th day, nationwide “No Kings” demonstrations accused the Trump administration of sliding toward authoritarianism.
From Times Square in New York to Portland and Los Angeles, crowds chanted “Resist Fascism” and “We the People Rule,” according to a report from Politico.
In a note shared with Cointelegraph, Bitunix analysts said the “political turmoil is not merely a clash between public sentiment and authority but a stress test of institutional confidence.”
They warned that if the shutdown continues, its impact could extend from liquidity to structural trust in the US system. “The market’s next move may depend on whether the nation’s political institutions can restore consensus amid deep division,” they said.
Related: BlackRock launches Bitcoin ETP after UK lifts trading ban
De-risking phase takes over market
Meanwhile, Vincent Liu, chief investment officer at Kronos Research, told Cointelegraph that the persistent ETF outflows reflect a broader de-risking phase. “Investors are locking in profits and sidelining fresh capital; both ETFs are seeing reduced risk appetite and thinner bid depth across the board.”
He added that US political turbulence has deepened the cautionary mood. “The erosion of trust in policy stability is pushing capital toward defensive plays,” Liu noted.
Looking ahead, Liu expects volatility to remain elevated as markets await clearer policy direction. “A more defined macro path or easing US political tension could restore confidence, reviving risk appetite and turning ETF flows back to positive,” he said.
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