U.S. Bitcoin ETF Outflows

U.S. spot Bitcoin ETFs have seen three consecutive days of net outflows, totaling nearly $500 million leading up to February 20.

The outflows began on February 18 with $61.4 million, followed by $71.07 million on February 19. On February 20, outflows surged to $364.93 million, marking the largest single-day decline in this period, according to data from SoSoValue.

BlackRock’s IBIT experienced the largest withdrawal of $112.05 million. Other significant outflows included $98.3 million from ARK Invest’s ARKB and $89.24 million from Fidelity’s FBTC. Grayscale’s GBTC saw outflows of $33.5 million, maintaining its trend since converting from a trust structure. Conversely, Bitwise’s BITB had inflows of $24.1 million, while VanEck’s HODL gained $4.18 million.

Bitcoin ETF outflows have raised concerns about shifting investor sentiment, although institutional demand appears to be rising. A recent $436.9 million investment in BlackRock’s IBIT by Abu Dhabi’s Mubadala Investment Company reflects long-term confidence in the market.

Moreover, Barclays reported a $131 million investment in IBIT in its Q4 2024 Form 13F filing with the SEC. Crypto analyst Miles Deutscher noted a slowdown in inflows into Bitcoin and Ethereum ETFs as the markets digested the early demand due to ETF approvals and the buzz surrounding Trump. Investors await another significant catalyst to boost prices, having already seen considerable purchasing pressure.

> “ETF flows for $BTC and $ETH are clearly slowing down since the election pumps. 📉”
>
> — Miles Deutscher (@milesdeutscher) February 20, 2025

Increased uncertainty arises from delays in the introduction of the Strategic Bitcoin Reserve, initially expected after Trump’s inauguration, which could have attracted new institutional inflows.

Despite the outflows, Bitcoin’s price remains stable at $98,000, up by 1% over the past day. Analysts emphasize that long-term institutional demand is critical to maintaining Bitcoin’s momentum in the upcoming months.

Read more: Canary Capital’s Litecoin Spot ETF listed on DTCC under LTCC ticker