Bitcoin ETFs bleed $516M on Monday, marking the year’s second-biggest outflow

US spot Bitcoin (BTC) exchange-traded funds (ETFs) recorded their second-largest outflows of the year on Monday, February 24, with investors pulling out $516.4 million, according to Farside data.

This marked the ninth net outflow in 10 days, highlighting investor unease as Bitcoin continues to remain under the pump.

Fidelity’s FBTC led the outflows among Bitcoin ETFs with $246.96 million, followed by BlackRock’s IBIT at $158.59 million and Grayscale’s GBTC at $59.5 million.

Invesco Galaxy’s BTCO saw $15.02 million in outflows, while WisdomTree’s BTCW and Bitwise’s BITB recorded $12.5 million and $10.26 million, respectively.

VanEck’s HODL experienced $7.33 million in outflows, and Grayscale’s mini Bitcoin Trust saw a $6.25 million outflow.

The data from ARKB ETF was not available at the time of writing.

Monday's net outflows marked the fifth-largest on record, excluding data from ARKB.

The largest single-day outflow occurred on December 19, when investors pulled $671.9 million following Bitcoin’s price correction from an all-time high above $108,000.

The spot Bitcoin ETFs have now recorded five consecutive days of net outflows, totalling $1.07 billion over this period.

Despite the recent outflows, total cumulative net inflows into Bitcoin funds remain above $39 billion.

The spot Bitcoin ETFs currently hold $111 billion in assets under management (AUM).

Bitcoin price falls off the cliff

The selloff coincided with Bitcoin falling to $88,614 on Monday—18.5% below its all-time high of $109,114, which it reached on Donald Trump’s inauguration day.

In the last 24 hours, the coin has hit a low of $86,873.15.

The plunge in BTC price has led to a wave of long liquidations, forcing traders to sell their assets at market price to cover their debts.

Over the past 24 hours, centralized exchanges have seen $614.5 million in long liquidations, according to CoinGlass data.

The recent weakness started after the $1.4 billion hack at crypto exchange Bybit, which raised concerns about security risks in the crypto market.

Uncertainty surrounding the Trump administration’s proposed tariffs on Canada, Mexico, and other trading partners has unsettled both traditional and digital markets.

While optimism remains high regarding the long-term positive impact of Trump’s crypto policies, Bitcoin's movements have largely been dictated by macroeconomic trends and may continue to be influenced by them.

Two weeks of outflow for BTC ETFs

Monday's massive sell-off follows continued outflows over the past two weeks.

US spot Bitcoin ETFs recorded their largest-ever two-week outflow, shedding $1.14 billion in net Bitcoin outflows leading up to February 21, according to Sosovalue data.

This marks the biggest withdrawal period since spot Bitcoin ETFs debuted on January 11, 2024.

The latest sell-off has now surpassed the previous record set in the two weeks leading up to June 21, 2024, when $1.12 billion flowed out of Bitcoin ETFs as Bitcoin traded around $64,000.