- Bitcoin ETFs registered significant outflows amid a bearish trend
- February 20 marked the worst day with $363.5 million in outflows
- Grayscale Bitcoin Mini Trust holds 41,545 BTC after recent outflows
Bitcoin exchange-traded funds registered significant outflows over the last couple of days. Following suit of a bearish trend hovering over the world’s largest crypto, Spot Bitcoin funds have also taken a turn, experiencing substantial withdrawals.
According to data from Farside Investors, Bitcoin ETFs have sold over half a billion dollars in BTC over the last 5 trading days. February 20 marked the worst-performing day, with $363.5 million leaving all ETFs, collectively.
On this date, Blackrock Bitcoin ETF (IBIT) registered $112 million in outflows. Fidelity (FBTC) was a close section with $88.2 million in withdrawals. The highest amount of cash deposited into Bitcoin ETFs on a single day belongs to IBIT, with $68.4 million deposited on February 18.
As for today, February 24, LookOnChain reveals that Bitcoin ETFs experienced a net outflow of 1,393 BTC, equivalent to $131.8 million. Additionally, the Grayscale Bitcoin Mini Trust saw outflows of 621 BTC, valued at $112.26 million, and currently holds 41,545 BTC, worth approximately $3.93 billion.
After several months of consecutive positive outlook for ETF, the Spot Bitcoin market appears to have found a slight barrier in the month of February. Out of the last 10 trading days for Bitcoin ETFs, only one—February 14—registered inflows.Â
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