Hold onto your hats, folks, because the U.S. spot Bitcoin ETF market just had a wild ride! February has been a bit of a rollercoaster, and it just hit a new loop-de-loop with a jaw-dropping $938 million single-day outflow. That's right, the biggest one-day cash exodus ever! And it all went down as Bitcoin took a nosedive, dropping below the $87,000 mark for the first time since mid-November.
According to data from Farside Investors, nearly every single spot Bitcoin ETF in the U.S. felt the pinch on Tuesday, February 25, with funds seeing outflows like never before. Well, almost every fund – Ark Invest’s ARKB was the lone ranger with no inflows or outflows. But Fidelity’s FBTC got hit the hardest, losing a whopping $344.7 million, setting a new record for its largest daily outflow since its inception. Close on its heels was BlackRock’s IBIT, which saw $164.4 million walking out the door, while Bitwise’s BITB had a not-so-lucky day with $88.3 million in outflows.
Now, BlackRock's ETF is no stranger to the outflow drama, having experienced its largest daily outflow of $332.6 million back on January 2. Meanwhile, Franklin Templeton’s EZBC and Grayscale’s GBTC also joined the party, with outflows of $66.1 million. Other funds like Invesco Galaxy Bitcoin ETF, CoinShares Valkyrie’s BRRR, and WisdomTree’s BTCW also couldn't escape the tide, losing $62 million, $25.2 million, and $17.3 million, respectively. VanEck’s HODL managed to keep things relatively chill, with a $10 million outflow.
Interestingly, this isn't the first time February has been a bummer for Bitcoin ETFs – Monday saw a similar exodus, with only ARKB, BRRR, and EZBC managing to stay put. Over the past six days, only a few ETFs, including IBIT, BITB, and HODL, have seen any inflows at all.
Overall, February has been a tough month for Bitcoin ETFs, with outflows dominating the scene. With only two days of positive inflows between February 6 and 25, more than $3 billion has vanished from the funds this month, making it the least favorite month since their grand debut in 2025.
It seems the love for Bitcoin from institutional investors is cooling off, thanks to various macroeconomic shifts and market vibes. Investors are playing it safe, not quite ready to dive headfirst into the BTC pool just yet. Let's see what the next month has in store for this thrilling saga!
