U.S. spot Bitcoin exchange-traded funds experienced $173.73 million in net outflows on April 1, marking a continuation of institutional selling pressure as the second quarter began. The withdrawals followed the end of Q1 2024, which closed with approximately $500 million in net redemptions despite a partial recovery in March.
The first-quarter performance showed mixed signals for Bitcoin ETF adoption, with March bringing $1.32 billion back into BTC funds after earlier outflows. However, the renewed selling pressure on April 1 suggests institutional investors remain cautious about Bitcoin exposure entering the new quarter.