The 11 U.S.-listed spot Bitcoin ETFs recorded a net outflow of $143.5 million, signaling a resumption of heavy outflows in the Bitcoin exchange-traded funds.
The $143 million exit followed a slight recovery in Bitcoin’s price, which hovered around $88,000, down from recent highs of $93,000. The outflows reveal that the market is still undergoing tremors after a dreadful February.
Fidelity’s FBTC led the outflow, losing $46.08 million, followed closely by ARK 21Shares’ ARKB with $43.92 million exiting.
Franklin Templeton’s EZBC lost $35.71 million, while Bitwise’s BITB and Invesco’s BTCO shed $23.96 million and $16.47 million, respectively.
BlackRock’s (IBIT), a heavyweight with over $53 billion in assets, recorded no daily transaction.
Total Bitcoin ETF assets now stand at approximately $37.5 billion, recovering from February’s $3.2 billion outflow streak.
Analysts link the March 4 outflows to profit-taking after Monday’s rally and lingering concerns from February’s $1.5 billion Bybit hack, which rattled crypto confidence.
The General market downturn also led to a dip in optimism among retail investors who pulled their funds from ETF Products.
At the time of the report, Bitcoin is exchanging hands for $89,704, dropping by 6.8% in the last 24 hours.
