The bullish streak for spot Bitcoin ETFs came to an end, with $585.65 million in net outflows for the week ending February 14, according to data from SoSoValue. This marks the first downturn after six consecutive weeks of inflows that collectively brought in over $5 billion.
Breaking Down the Weekly Flows
The week started with heavy losses:
- Feb. 10: $186.28M outflows
- Feb. 11: $56.76M outflows
- Feb. 12: $251.03M outflows (biggest daily loss)
- Feb. 13: $157.78M outflows
- Feb. 14: $66.19M inflows (marginal recovery)
Despite the downturn, Fidelity’s FBTC led the rebound, posting $94.04 million in inflows, ending its previous four-day negative streak. BlackRock’s IBIT followed with $22.26 million, while Bitwise’s BITB and Grayscale’s mini Bitcoin Trust contributed $7.99 million and $6.46 million, respectively.
Grayscale’s GBTC Continues to Bleed
Grayscale’s GBTC remained the biggest loser, witnessing $46.95 million in outflows, bringing its cumulative losses to a staggering $22.01 billion since its ETF conversion. ARK 21Shares’ ARKB and VanEck’s HODL also faced minor outflows of $13.19 million and $4.43 million, respectively.
Bitcoin Price Reacts to ETF Outflows
At the time of reporting, Bitcoin (BTC) was trading at $95,652, reflecting a 2.4% decline over the past week. Analysts suggest that ETF outflows and market uncertainty could be contributing factors to Bitcoin’s short-term price correction.
Ethereum ETFs Also See Outflows but End on a Positive Note
Ethereum ETFs weren’t immune to the market shift, recording $26.26 million in outflows over the same period. However, the week ended with a modest $11.65 million inflow, all of which went into Fidelity’s FETH, while other Ethereum ETFs saw zero inflows.
At press time, Ethereum (ETH) was trading at $2,685, down only 0.3% over the past week, showing relative resilience compared to Bitcoin.
What’s Next for Bitcoin ETFs?
With institutional sentiment shifting, the next few weeks will be crucial in determining whether Bitcoin ETFs can regain momentum or if more investors will take profits and exit their positions. Fidelity and BlackRock’s continued inflows suggest institutional confidence remains intact, but Grayscale’s massive outflows remain a concern for the broader market.
