The US Bitcoin spot ETF has experienced net outflows for five consecutive weeks, totaling $3.8 billion in evaporation, with the price falling below the key average of $79,000. Market sentiment has clearly cooled.
As the overall cryptocurrency market pulls back and institutional risk appetite wanes, the US-listed Bitcoin spot ETF has seen five straight weeks of net capital outflows, marking the longest withdrawal trend since the tariff storm in early 2025.
According to SoSoValue statistics, as of the week ending February 20, a total of approximately $316 million flowed out of 12 US Bitcoin spot ETFs. Since Monday was a US holiday for Presidents’ Day, only four trading days occurred that week, but selling pressure remained heavy.
Looking back at last week’s situation, the first three trading days saw complete failure: Tuesday saw a loss of about $105 million, Wednesday expanded to $133 million, and Thursday further outflows of $166 million. It wasn’t until Friday that the market saw a slight respite, with about $88 million of funds buying the dip, mainly led by asset management giants BlackRock’s IBIT (which attracted $64.5 million) and Fidelity’s FBTC (which attracted $23.6 million), but the overall net outflow for the week could not be reversed.
This wave began during the week of January 20, and to date, Bitcoin ETFs have evaporated approximately $3.8 billion in total funds.
The last time the market experienced such a prolonged and severe consecutive bloodletting was in March 2023. At that time, US President Trump unexpectedly imposed tariffs, triggering a global risk asset crash, leading to a net outflow of about $5.4 billion from Bitcoin ETFs over five weeks.
Although this current withdrawal trend is similar in duration to last year, its impact has been somewhat milder. The selling pressure was concentrated in late January, with outflows of $1.33 billion and $1.49 billion over two consecutive weeks; in the past three weeks, the outflows have been relatively contained, ranging from $316 million to $360 million.
Despite short-term headwinds, from a long-term perspective, the capital moat of Bitcoin ETFs remains strong. Since their listing in January 2024, net inflows have totaled around $54 billion, with total assets under management (AUM) approximately $85.3 billion.
Bitcoin is currently oscillating around $65,800, down nearly 25% this year. On-chain analytics firm Glassnode pointed out that Bitcoin has broken below the “True Market Mean” at $79,000, a key indicator used to measure the average cost basis of active investors, often seen as a critical dividing line between market expansion and contraction.
Regarding future trends, Stephen Coltman, Chief Economist at 21Shares, said, “Bullish expectations see $65,000 as a bottom; conversely, if the price can strongly recover above $70,000, it would indicate that recent selling pressure has been exhausted.”
It is worth noting that Ethereum spot ETFs also recorded a net outflow of $123 million last week, marking the fifth consecutive week of outflows, with total outflows reaching $1.39 billion.
Meanwhile, competing coin ETFs have defied the trend and attracted funds. Solana (SOL) spot ETF saw a net inflow of $14.3 million last week, and Ripple (XRP) experienced a modest inflow of $1.8 million.
- This article is reprinted with permission from BlockCast
- Original title: Bitcoin Spot ETF Experiences 5 Weeks of Net Outflows! Longest Bloodletting Record in Nearly a Year
- Original author: Block Sister MEL
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