Bitcoin ETFs Experience Continued Outflows as BTC Dips Below $95K

On February 11, Bitcoin exchange-traded funds (ETFs) in the U.S. experienced continued outflows, as the price of Bitcoin (BTC) briefly dipped below $95,000. Spot Bitcoin ETFs saw a total of $56.76 million in net outflows, extending the negative trend from the previous day, which saw $186.28 million in outflows. This marks the second consecutive day of outflows, signaling weaker demand for these investment products.

The outflows were led by Fidelity’s FBTC, which saw a significant $43.63 million exit the fund. Other Bitcoin ETFs, including Franklin Templeton’s EZBC, Invesco Galaxy’s BTCO, Bitwise’s BITB, and WisdomTree’s BTCW, also contributed to the negative momentum, with each recording varying outflows. Notably, BlackRock’s IBIT ETF was the only exception, attracting $23.8 million in inflows, which helped offset some of the outflows from the other funds. IBIT has accumulated over $40 billion in total net inflows since its launch, suggesting it remains a preferred choice for investors among Bitcoin ETFs.

The daily trading volume for these spot Bitcoin ETFs reached $2.14 billion on February 11, slightly up from $1.84 billion the previous day, indicating that, despite the outflows, there is still significant activity in these markets.

Meanwhile, the situation was somewhat different for Ethereum (ETH) ETFs. After a period of decline, Ethereum ETFs saw a positive shift, with net inflows of $12.58 million on February 11. These inflows were entirely driven by BlackRock’s ETHA, while the other Ethereum ETFs saw no movement. The daily trading volume for Ethereum ETFs increased to $267.66 million, up from $210.99 million the previous day.

Notably, the mixed performance of BTC and ETH ETFs aligns with broader trends in institutional investments. For example, Goldman Sachs recently disclosed that it had dramatically increased its spot Ether ETF holdings by 2,000% during the fourth quarter of 2024, while also boosting its Bitcoin ETF exposure to over $1.5 billion.

As of the latest data, Bitcoin was trading at $95,834, down 2.5% from the previous day, after briefly dipping below the $95K mark earlier on February 11. Ethereum, however, saw a steeper drop, falling 3.7% to $2,604 during the same period.

The current trend of outflows from Bitcoin ETFs and inflows into Ethereum ETFs may reflect shifts in investor sentiment or broader market dynamics, as traders continue to weigh the risks and opportunities in the cryptocurrency space.