Bitcoin ETFs Extend Outflow Streak

Bitcoin and ether exchange-traded funds (ETFs) faced significant withdrawals on Wednesday, Feb. 12. Bitcoin ETFs recorded their third consecutive day of outflows, totaling $251.03 million.

Notably, Fidelity’s FBTC and Ark 21Shares’ ARKB were the primary contributors, with outflows of $101.97 million and $97.03 million, respectively.

Bitwise’s BITB and Blackrock’s IBIT were not spared the market downturn, with each fund losing $25.94 million and $22.11 million, respectively. The only bright spot was Grayscale’s BTC, which brought in $16.34 million.

Over the past five trading days, bitcoin ETFs have experienced only one day of inflows with the four other days seeing significant outflows.

Ether ETFs were not immune to the downturn, experiencing a net outflow of $40.95 million. Grayscale’w ETHE was the most affected, accounting for $30.23 million of the total outflow. The other loss came on Fidelity’s FETH with a $10.72 million funds exit.

The substantial withdrawals from prominent funds like FBTC, ARKB, BITB, and IBIT highlight a cautious approach among investors during this period.

As of Feb. 13, BTC is trading at approximately $96,000, reflecting a 2% decrease from the previous day. ETH’s price stands at around $2,600, marking a 1.5% decline.

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