PANews reported on February 28 that according to The Block, in the past eight days, as the wider cryptocurrency and stock market sold off, the US spot Bitcoin ETF had a net outflow of $3.2 billion. SoSoValue data showed that the Bitcoin ETF has only recorded four days of net inflows so far this month, resulting in a monthly net outflow of $3.65 billion. The eight-day continuous net outflow is equal to the record of continuous net outflows in August 2024, becoming the longest net outflow cycle since the establishment of the Bitcoin Fund.
On Tuesday, spot Bitcoin ETFs reported a new high of $1.14 billion in net outflows. The largest Bitcoin ETF by net assets, BlackRock's IBIT, saw its largest net outflow ever the following day, at $418 million. However, compared to the net outflows of the previous few days, Thursday's latest net outflow of $275.8 million was relatively mild. IBIT dominated yesterday's net outflows, reaching $189 million. Bitwise's BITB was the only fund to report net inflows, with net inflows of $17.6 million.
With the latest net outflows, the cumulative total net inflows of the 12 Bitcoin funds are now $36.85 billion, the lowest level since January 14. The total net assets of these ETFs are $94.3 billion, accounting for about 5.7% of the Bitcoin market value. At the same time, the spot Ethereum ETF also witnessed a net outflow of $71 million on Thursday, and the total net outflow for six consecutive days reached $315 million.
