Bitcoin ETFs Lose $938 Million In One Day – All, Except One
02/26/2025 18:47
Bitcoin ETFs witness the largest BTC withdrawal in history
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Data shared by the analytics account Spononchain has revealed that spot Bitcoin ETFs have faced a massive Bitcoin withdrawal which closely approached $1 billion.
The data source showed that the largest daily outflow since Bitcoin ETF release in 2024 has taken place as $937.9 million worth of BTC left eleven exchange-traded funds.
Related
Close to $1 billion BTC lost by Bitcoin ETFs
The largest damage was done to Fidelity (FBTC) which faced a withdrawal of $344.7 million. BlackRock’s IBIT followed FBTC with a $164.4 million loss. Bitwise and Grayscale mini ETF have faced a roughly similar withdrawal - $88.3 and $88.5 million.
Spotonchain says that the data it provided does not include Ark Invest run by renowned investor and Bitcoiner Cathie Woods. However, the tweet says that it might have also seen a big outflow.
— Spot On Chain (@spotonchain) February 26, 2025[ATTENTION] A massive 🔴$937.9M just flowed out of U.S. 🇺🇸 BTC ETFs—the LARGEST since launch!
👉 This includes the largest outflow ever from Fidelity's FBTC and the fifth-largest outflow from BlackRock’s IBIT.
👉 This figure does not include 21Shares’ ARKB data, which may also… https://t.co/Rp7SnIU6k6 pic.twitter.com/SlhP84VSB1
This is the first time in almost four months when Bitcoin has plummeted below the $90,000 level. Over the past 24 hours, the largest cryptocurrency has partly restored its losses, adding roughly 2.45% - Bitcoin has managed to rise from $87,000 to $89,020, where it is changing hands at the moment. The price crash took place roughly a week ahead trade tariffs imposed by the US president on Canada and Mexico. Besides, the Fed Reserve is hesitating as to whether to continue interest rate reduction or turn hawkish again.
Bitcoin ETFs have been trading since mid-January last year, when the SEC approved those filings after many months of waiting.
Related
Binance CEO shares take on market crash
Binance chief executive Richard Teng published a thread on his X account to share his view on what is happening in the crypto market at the moment.
— Richard Teng (@_RichardTeng) February 25, 2025Here's my thoughts on the recent market turbulence: It's important to view this as a tactical retreat, not a reversal.
Crypto has been here before and bounced back even stronger. Here's why we should stay optimistic. ⤵️
A thread 🧵
First of all, Teng believes that this is “a tactical retreat, not a reversal.” He reminded the community that the market has many times retraced and then “bounced back even stronger.” For this reason, he said, it is worth staying optimistic. The crypto market reacts to macroeconomic shifts, like conventional assets. Still, Teng said: “While a March cut looks less likely now.” He recalled the Bitcoin drop in 2020, when the Fed Reserve began its rate hike.
Teng pointed out that in reality the fundamental indicators of crypto are improving. What is happening now, per Binance CEO, is “a recalibration” and it is important to stay focused and informed.