Spot bitcoin ETFs log $649 million in net outflows, largest since January

Spot bitcoin (BTC) exchange-traded funds in the U.S. recorded their largest single-day net outflows since Jan. 29.

According to data from SoSoValue, bitcoin ETFs saw $648.6 million in net outflows across seven funds on Monday. This extended last week's total net outflows of $1 billion, which ended a six-week positive streak.

Among the funds, BlackRock's IBIT logged the largest outflows yesterday, worth $448.3 million, followed by $109.6 million from Ark & 21Shares' ARKB. Fidelity's FBTC reported $63.4 million in outflows, while funds from Bitwise, VanEck, Invesco, and Franklin Templeton also logged negative flows.

"Bitcoin ETF outflows reflect a short-term institutional risk-off move, driven by profit-taking and macro uncertainty," said Dominick John, analyst at Zeus Research. "Institutions remain active but more tactical, using ETFs as liquidity tools to manage exposure. Flows now hinge on rates and volatility, with capital staying on the sidelines."

After weeks of gradual gains, bitcoin dropped below $77,000 over the weekend, impacted by renewed tensions between the U.S. and Iran and rising oil prices, which fueled concerns about persistent inflation.

The Zeus Research analyst also explained that higher U.S. Treasury yields drove ETF outflows as global liquidity tightened and the risk-free returns became more attractive. Combined with the inflation fears, the macro mix is pushing short-term de-risking among institutional investors, John said.

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"Bitcoin is in a consolidating phase amid macro-driven volatility, holding a key support zone around $76,000-$77,000," John told The Block. "Meanwhile, major stablecoins led by USDT and USDC have expanded in market cap, signaling sidelined liquidity building up on the sidelines and positioning for potential dip-buying opportunities if price revisits key levels."

Other analysts told The Block earlier this week that bitcoin and the crypto market remains structurally constructive, and is positioning for a potential bounce.

"Near-term volatility stays high, but this dip looks like healthy digestion in a broader uptrend," Andri Fauzan Adziima, research lead at Bitrue Research Institute, said. Analysts say traders should closely monitor signals from new Federal Reserve Chair Kevin Warsh, and his tone on inflation, rates, and policy.