Bitcoin ETFs Struggle With 35x More Outflows Than Inflows

• Bitcoin ETFs recorded $4 billion in outflows since February 20, overshadowing $116 million inflows during the same period, marking the worst performance since their early 2024 launch
• March 10 alone saw $189 million in outflows from Bitcoin ETFs, with Fidelity (FBTC) leading at $134 million, as selling pressure weighs heavily on the cryptocurrency market
• Bitcoin currently trades at $79,139, down 28% from its $109,553 all-time high, reflecting the broader downturn in the cryptocurrency sector over the last two weeks

Amidst the massive selling pressure in the cryptocurrency market, Bitcoin exchange-traded funds have registered yet another outflow day on March 10. 

On this date, the collective of all Bitcoin ETFs registered $189 million in outflows. Fidelity (FBTC) registered the most withdrawals with $134 million leaving the fund. Bitwise
(BITC), Invesco (BTCO), Franklin (EZBC), and Grayscale (GBTC) have also reported outflows of up to $20 million. 

Outflows Eclipse Inflows

Looking at Spot Bitcoin Funds’ performance from a greater timestamp reveals yet another worrisome outlook. Since February 20, the market saw $4 billion leaving Bitcoin ETFs according to data from Farside Investors. 

Perhaps even more problematic, in that same timeframe the collective of Bitcoin ETFs managed to report inflows on only two out of thirteen days. And yet, only $116 million were added to ETFs in that period. 

Putting it in numbers, the outflows registered since February 20 are nearly 35 times greeted than the amount of money entering the funds. Since its creation in early 2024, this period has been the worst-performing stretch in Bitcoin ETFs’ history. 

This setback coincides with the steep downturn the cryptocurrency market has experienced over the last two weeks. Currently, Bitcoin trades at $79,139 — down 28% from its $109,553 all-time high.

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