Spot bitcoin exchange-traded funds in the United States continued their outflow line on February 27, as the Bitcoin became a tumble under $ 80K, causing a feeling of risk-to-sense in the wider crypto market.
As data From Sosowale, 12 spots bitcoin ETFS on Tuesday recorded $ 275.83 million in pure outflow, expanding the streak of its negative flow for eight consecutive days, during which exiting more than $ 3.2 billion funds.
Within this period, Blackrock’s Ibit experienced its highest outflow day on 26 February, with $ 418.06 million in pure redemption. It came a day after the 12 ETFs collectively recorded their highest single-day net outflow, with investors withdrawn $ 1.14 billion.
Meanwhile, on 27 February, most of the outflows came from the ibit of Blackrock, which lost $ 189.02 million, followed by BTCW of Wisdomtree, which saw $ 53.78 million in the outflow.
Bitwiz’s bitab promoted a trend with $ 17.65 million in the flow, making the only ETF to see any flow in the last three days. Other ETFs that see negative flows are as follows:
- Valkyrie BRR: $ 12.82 million
- Vaneck’s Hodl: $ 10.58 million
- Grassscale’s GBTC: $ 7.26 million
- Fidelity FBTC: $ 7.25 million
- Franklin Templeton’s EZBC: $ 7.23 million
- Grassscale’s mini bitcoin trust: $ 5.54 million
The remaining three BTC ETFs remained neutral on the day.
The daily trading volume press for the spot bitcoin ETF was $ 3.01 billion on time. Since his launch, these ETFs have deposited a net flow of $ 36.58 billion in total.
Nine atherium ETF did not improve, with $ 71.08 million In pure outflow on 27 February, negative speed continues for the sixth straight day.
Blackrock’s ETHA recorded $ 26.06 million in the outflow, followed by Fidelity’s Faith and Grassscale Ethe, respectively with $ 25.45 million and $ 19.57 million.
The outflow of both bitcoin and Etrem ETF came as bitcoin (BTC) on Tuesday, falling below $ 80,000 on Tuesday, marked for the first time under that level in three months. The broad crypto market as a dip suffered a sell-off amid growing global market volatility.
The major cryptocurrency during early Asian trade declined as $ 79,561, a sharp fall from its all -time high of over $ 109,000 recorded last month.
After Donald Trump’s election victory in November, Bitcoin was on a large scale rally. His supporter-crypto trend, which includes promises to reduce rules and make the US a global crypto hub, promoting optimism in the market.
However, this enthusiasm has recently faded as Trump’s policies – such as applying tariffs on business partners – has increased the possibility of a potential global trade war. His plans to cut taxes and to tighten immigration rules have also led to inflation concerns, making speculation that the Federal Reserve may keep the interest rates high for a long time. At the same time, economic data shows that the US economy is slowing down, which gives the market uncertainty.
