The post Bitcoin ETF outflows soar over 700%, led by Fidelity’s FBTC appeared on BitcoinEthereumNews.com.

U.S. spot Bitcoin ETFs saw a big spike in net outflows on Feb. 24, with most of it coming from Fidelity and BlackRock’s funds as market sentiment turned sour. According to data from SoSoValue, the 12 spot Bitcoin ETFs recorded $516.41 million in outflows on Monday, a surge of over 700% from the previous day’s $62.77 million, making it the worst single-day outflow since Jan. 8. Fidelity’s FBTC took the biggest hit, losing $246.96 million, followed by BlackRock’s IBIT, which saw $158.59 million in redemptions. Notably, none of the ETFs recorded any inflows that day, signaling a strong wave of selling pressure. Data for ARK 21Shares’ ARKB wasn’t available at the time, but other ETFs that saw outflows included: Grayscale’s GBTC: $59.5 million Invesco Galaxy’s BTCO: $15.02 million WisdomTree’s BTCW: $12.5 million Bitwise’s BITB: $10.26 million VanEck’s HODL: $7.33 million Grayscale’s mini Bitcoin Trust: $6.25 million Despite the sell-off, the total daily trading volume for these ETFs was still high at $2.9 billion, and overall, these funds have seen net inflows of $39.04 billion since their launch. Ethereum ETFs also take a hit It wasn’t just Bitcoin ETFs that struggled. Ethereum ETFs also faced heavy outflows, losing $78.09 million on Feb. 24, a sharp jump from the $8.92 million outflows the day before. BlackRock’s ETHA led the exits with $48.21 million withdrawn, followed by Grayscale’s ETHE, which lost $15.45 million. Other funds also saw redemptions: Bitwise’s ETHW: $9.71 million Grayscale’s mini Ethereum Trust: $4.73 million Data for 21Shares’ CETH wasn’t updated at the time, but the remaining four ETH ETFs saw no movement at all. Bitcoin struggles to find direction The timing of these outflows wasn’t random. Bitcoin has been stuck in a tight range between $94,000 and $98,000 for most of February, and over the weekend, it took a…

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Filed under: News - @ February 25, 2025 11:19 am