Bitcoin ETFs Face $3.2B Outflows as BTC Dips Below $80k

Bitcoin ETFs continue to face outflows as BTC dips below $80k

Spot Bitcoin exchange-traded funds in the United States experienced a net outflow of $275.83 million on Feb. 27, marking the eighth consecutive day of negative flows. This streak has resulted in over $3.2 billion exiting the funds. The outflows came as Bitcoin tumbled under $80k, driving a risk-off sentiment across the broader crypto market.

BlackRock’s IBIT saw its highest outflow day on Feb. 26, with $418.06 million in net redemptions. This followed a day when the 12 ETFs collectively recorded their highest single-day net outflows, with investors withdrawing $1.14 billion. On Feb. 27, BlackRock’s IBIT accounted for the majority of outflows, losing $189.02 million, followed by WisdomTree’s BTCW, which saw $53.78 million in outflows.

Bitwise’s BITB was the only ETF to see inflows over the past three days, with $17.65 million. Other ETFs that saw negative flows include Valkyrie’s BRRR, VanEck’s HODL, Grayscale’s GBTC, Fidelity’s FBTC, Franklin Templeton’s EZBC, and Grayscale’s Mini Bitcoin Trust. The remaining three BTC ETFs remained neutral on the day.

Daily trading volume for spot Bitcoin ETFs stood at $3.01 billion at press time. Since their launch, these ETFs have accumulated a net inflow of $36.58 billion overall.

The nine Ethereum ETFs also experienced net outflows of $71.08 million on Feb. 27, continuing the negative momentum for the sixth straight day. BlackRock’s ETHA recorded $26.06 million in outflows, followed by Fidelity’s FETH and Grayscale’s ETHE, with $25.45 million and $19.57 million, respectively.

The outflows from both Bitcoin and Ethereum ETFs came as Bitcoin (BTC) dropped below $80,000 on Tuesday, marking its first time under that level in over three months. The dip occurred