Institutional appetite for bitcoin cooled sharply on Thursday as investors pulled $171.12 million from the 11 U.S.-listed spot bitcoin ETFs — the biggest single-day outflow in just over three weeks, according to SoSoValue.
BlackRock’s IBIT led the exodus with $41.92 million in redemptions. Several other big-name products also saw notable withdrawals: Fidelity’s FBTC, Grayscale’s GBTC, Bitwise’s BITB and ARK Invest’s ARKB each lost between $20 million and $30 million. The combined move marks a clear shift after a sustained run of demand earlier this month.
Those ETFs had attracted more than $2 billion from late February through mid-month, but the pace has decelerated recently. Last week brought just $95.8 million in net inflows, and investors have taken out $70.71 million so far this week. The Thursday outflow is the latest sign that institutional accumulation may be taking a breather.
Launched in January 2024, these spot bitcoin ETFs let investors gain exposure to bitcoin’s price without holding the asset directly, making them a popular institutional on-ramp. The recent pullback in ETF flows raises questions about how long bitcoin can sustain its resilience near the $70,000 level, especially as markets weigh broader macroeconomic headwinds.
While a single day of withdrawals doesn’t signal a decisive trend, the moderation in flows underscores a more cautious stance among institutional players after a period of heavy buying. Market watchers will be watching ETF flows closely as a barometer of longer-term institutional conviction in bitcoin.
Read more AI-generated news on: undefined/news
