- Bitcoin ETFs saw $377.6 million in outflows since February 18
- Fidelity (FBTC) and Ark (ARKB) registered the most cash leaving their funds
- Ethereum ETFs have registered inflows on nine out of the last eleven trading days
The latter half of February hasn’t been so kind to Bitcoin exchange-traded funds. Over the last three recorded days, the sum of all ETFs registered consecutive withdrawals, putting a halt to hopes that the market would continue the ascending trend seen in January.
On February 20, Spot Bitcoin funds registered $252 million in outflows—the most withdrawals since January 27. Fidelity (FBTC) and Ark (ARKB) registered the most cash leaving the funds with $88.2 million, and $98.3 million—respectively.
Bitwise (BITB) and VanEck (HODL) were the only funds to see deposits on this day. The numbers, however, are far less impressive: only $24 million in inflows for Bitwise and $4.2 million for VanEck.
Since February 18, all Bitcoin ETFs have registered $377.6 million in outflows. According to Farside Investors data, Spot Bitcoin funds have experienced eight negative days out of the last ten since February 6th.
Ethereum ETFs Slowly Gaining Momentum
Meanwhile, Ethereum exchange-traded funds have had a more positive last couple of days. Despite seeing $13 million in outflows on February 20, these ETFs have registered inflows on nine out of the last eleven trading days.
Yesterday February 19, Fidelity (FETH) added a whopping $24.5 million to the fund, taking the acquisition of around 8,970 ETH. This number marks the highest single inflow by one fund since February 3rd.
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