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crypto.news 2025-02-21 05:35:22

U.S. spot Bitcoin ETFs record three consecutive days of net outflows

U.S. spot Bitcoin ETFs have experienced three consecutive days of net outflows, losing nearly $500 million over this period leading up to Feb. 20. The three day outflows started with $61.4 million on Feb. 18, followed by $71.07 million on Feb. 19. However, on Feb. 20, net outflows surged to $364.93 million, according to data from SoSoValue. This marks the most significant single-day decline in the three days. BlackRock’s IBIT experienced the largest single-day withdrawal, losing $112.05 million. The next biggest outflows were $98.3 million from ARK Invest’s ARKB and $89.24 million from Fidelity’s FBTC. With $33.5 million in outflows, Grayscale’s GBTC continued its outflow streak following its conversion from a trust structure. Interestingly, Bitwise’s BITB had inflows of $24.1 million, while VanEck’s HODL witnessed a slight gain of $4.18 million. You might also like: Strategy’s Saylor urges US to buy 20% of Bitcoin’s supply Bitcoin ( BTC ) ETF outflows have sparked worries about changing investor sentiment. However, institutional demand seems to be growing. The recent $436.9 million investment in BlackRock’s IBIT by Abu Dhabi’s sovereign wealth fund, Mubadala Investment Company, shows long-term confidence. In addition, Barclays has also revealed a $131 million investment in IBIT as of Q4 2024 in its Feb.13 form 13F filing with the Securities and Exchange Commission. Crypto analyst Miles Deutscher noted that as markets factored in early demand from ETF approvals and euphoria surrounding Trump, inflows into Bitcoin and Ethereum ( ETH ) ETFs have decreased. Investors are currently waiting for the next significant catalyst to push prices higher, as a large portion of that purchasing pressure has already been realized. https://twitter.com/milesdeutscher/status/1892507002942972363?s=46&t=nznXkss3debX8JIhNzHmzw Uncertainty has also increased as a result of the Strategic Bitcoin Reserve’s delayed introduction. Many investors had anticipated it would take place soon after Donald Trump took office and possibly spur new institutional inflows. Despite the outflows, Bitcoin’s price has remained relatively stable at $98,000, up 1% over the last day. Long-term demand from institutions is a crucial aspect to monitor, according to analysts, as it might help sustain Bitcoin’s momentum in the coming months. Read more: Canary Capital’s Litecoin Spot ETF listed on DTCC under LTCC ticker

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