Bitcoin ETF Outflows Reach $750 Million
Bitcoin ETF outflows have nearly reached $750 million in the past two days as the crypto market continues its decline. BlackRock, the largest issuer, has offloaded approximately 2,000 BTC in the last 24 hours.
ETF issuers have sold enough BTC to hold less than Satoshi’s original holdings, having exceeded them three months ago. Despite their significant past purchases, they are now marking major sales.
Continued Outflows from Bitcoin ETFs
Since obtaining SEC approval last year, Bitcoin ETFs have significantly impacted the market. Recently, however, they are exhibiting bearish trends. At the end of February, the market saw outflows of $2.7 billion, a trend that has continued, with nearly $750 million lost this week alone.
This week marks the seventh consecutive day of outflows, with BlackRock’s IBIT leading the losses with $151 million in the last 24 hours.
Analysts began speculating in mid-February about BlackRock’s potential Bitcoin sell-off. ETF analyst Shaun Edmondson observed the emerging trend:
> “The markets are very ‘risk off’ at the moment with the Tariff uncertainty, but this continues to be an outflow day from US Spot ETFs, collectively falling below Satoshi again. Despite the bullish SEC narrative and major financial strategies, it’s surprising,” remarked Edmondson.
Since yesterday, BlackRock has offloaded around 2,000 BTC. It remains uncertain how far this trend will go, but the sales are concerning. These issuers surpassed Satoshi’s holdings in December, and the recent outflows have significantly reversed previous enthusiastic purchases.
Despite this negative sentiment from ETFs, Bitcoin’s price is relatively stable amid the widespread downturn in the crypto market. The recent US CPI report exceeded expectations, giving Bitcoin some temporary relief, though its future remains unpredictable.
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