Spot bitcoin ETFs register second consecutive day of outflows totaling $545 million

Investors pulled another $544.94 million from U.S. spot bitcoin BTC exchange-traded funds on Wednesday, marking a second consecutive day of net outflows, according to data from SoSoValue.

BlackRock's IBIT led the daily outflows with $373.44 million exiting the product. Fidelity's FBTC and Grayscale's GBTC followed with outflows of $86.44 million and $41.77 million, respectively. Funds managed by Ark & 21Shares, VanEck, and Franklin Templeton also reported outflows.

The selling pressure came as bitcoin continued to slide. The world's largest cryptocurrency fell below the $71,000 level at one stage late Wednesday, touching its lowest level since October 2024, according to The Block's price page, amid broader risk-off sentiment across global financial markets. 

The two-day withdrawal total now stands at $816.96 million. The outflows followed a $562 million single-day inflow on Monday — the funds' largest daily intake since mid-January. The record single-day inflow for the year remains $843.62 million, recorded on Jan. 14.

Despite the recent outflows, the structural footprint of the funds remains substantial. Since their launch two years ago, U.S. spot bitcoin ETFs have accumulated $54.75 billion in total net inflows. Their aggregate net assets currently represent 6.36% of bitcoin's total market capitalization.

Outflows spread beyond bitcoin funds

The outflow pressure extended to other major digital asset products on Wednesday. U.S. spot Ethereum ETFs posted $79.48 million in net outflows, with the movement concentrated in just two funds. 

BlackRock's iShares Ethereum Trust saw $58.95 million leave the product. Fidelity's Ethereum Fund (FETH) reported outflows of $20.53 million. The other spot Ethereum ETFs logged zero flows.

Meanwhile, U.S. spot XRP ETFs attracted a net inflow of $4.83 million. Franklin Templeton's XRP Fund (XRPZ) captured over half of that total, according to SoSoValue data. Spot Solana ETFs, however, posted a net outflow exceeding $6 million for the day.