Bitcoin ETFs have been experiencing a trend of investors pulling their money out recently. For the second week in a row already, U.S. spot Bitcoin exchange-traded funds (ETFs) have seen over $500 million in outflows. That means more investors are selling their shares in these funds than buying them.
What’s Happening With Bitcoin ETFs?
According to SoSoValue, Bitcoin ETFs recorded $559.41 million in outflows in the past week, continuing the downward trend from the previous week, when they lost $585.65 million.
The week started on Feb. 18 with $60.63 million in outflows, reversing the positive inflows seen at the end of the prior week. By Feb. 19 and 20, the situation worsened, with $71.07 million and $364.93 million flowing out, making Feb. 20 the worst single day of February. By Feb. 21, another $62.77 million left the funds.
Which ETFs Are Seeing the Most Outflows?
Grayscale’s GBTC has taken the biggest hit, losing $60.08 million on Feb. 21 alone. Since converting from a trust to an ETF, it has been experiencing consistent outflows. Bitwise’s BITB and Fidelity’s FBTC also saw losses of $16.58 million and $12.47 million, respectively.
Not all funds saw money leave, though. BlackRock’s IBIT received $21.64 million in new investments, and VanEck’s HODL gained $4.71 million.
How Much Has Been Withdrawn This Month?
Since Feb. 6, Bitcoin ETFs have lost $1.1 billion in net outflows, making February 2025 the worst month for withdrawals since these funds were launched. However, there were a few days when inflows outweighed outflows, including Feb. 4, 5, 7, and 14.
Even though Bitcoin ETFs are struggling in February, it’s important to remember that investor sentiment can shift quickly. The total weekly trading volume for these funds still reached $10.72 billion, showing that there’s plenty of activity in the market.
At time of writing, Bitcoin is trading at $92,000 according to CoinMarketCap data. The flagship cryptocurrency plunged late Monday from $96,000.