U.S. spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds opened the second quarter with a combined $180.83 million in net outflows on Apr. 1, even as Grayscale's lower-cost products managed to pull in fresh capital against the broader selling trend.

Bitcoin ETF Outflows Hit $173M

The bulk of withdrawals came from the two largest spot Bitcoin funds. BlackRock's iShares Bitcoin Trust (IBIT) lost $86.52 million, while Fidelity's Wise Origin Bitcoin Fund (FBTC) shed $78.64 million, according to data from SoSoValue.

Grayscale's legacy GBTC fund recorded an additional $13.26 million in redemptions.

The selloff followed a difficult first quarter.

BTC funds closed Q1 with roughly $500 million in net redemptions, despite a partial March recovery that brought $1.32 billion back into the category.

Yet Grayscale's Bitcoin Mini Trust (ticker BTC) drew $10.25 million in new investment. The fund charges a 0.15% expense ratio, the lowest fee among all U.S. spot Bitcoin ETFs. Total net assets across the category stood at $87.71 billion as of Apr. 1, with cumulative net inflows at $55.95 billion since launch.

Also Read: Bitcoin Goes Below $67K After Trump Vows To Bomb Iran To 'Stone Ages'

Grayscale Ethereum Trust Bucks Trend

Spot ETH funds posted $7.10 million in net outflows the same day. But Grayscale's Ethereum Trust ETF (ETHE) stood apart, attracting $17.42 million in the largest single-day inflow among all ETH products. BlackRock's iShares Ethereum Trust (ETHA) moved the opposite direction, losing $32.26 million.

The divergence is notable because ETHE charges a 2.50% fee, far above most competitors. Total net assets for spot Ethereum ETFs reached $12.21 billion, roughly 4.72% of Ethereum's total market cap.

Ether ETFs closed Q1 with $769 million in total quarterly outflows, their worst three-month stretch since launching.

Read Next: Ethereum Drops Below $2,120 As Bears Regain Control