BlackRock’s Bitcoin ETF IBIT sold 5,002 Bitcoin worth $418 million on February 26th, marking the highest-ever outflow in a single day. Cumulatively, all U.S. Bitcoin ETFs experienced negative flows worth $754 million.
According to data from web3 data and investment platform Sosovalue, U.S. spot Bitcoin ETFs cumulatively registered outflows worth $754 million. The outflow marked a seven-day streak of negative flows that began on February 18th. Between February 18th and February 26th, the Funds have witnessed outflows worth close to $3 billion with February 25th recording the largest outflows worth $1.14 billion.
BlackRock’s iShares Bitcoin Trust(IBIT) has emerged in the spotlight after selling some of its Bitcoin stash in what is believed to be the largest-ever outflow in a single day. On 26 February, IBIT sold 5,002 Bitcoin worth $418 million. Despite the massive sell-off, IBIT still retains its position as the largest Bitcoin ETF by net assets under management.
*Record* outflow from iShares Bitcoin ETF today…
Approx $420mil.
— Nate Geraci (@NateGeraci) February 27, 2025
Fidelity’s FBTC had the second-highest sell-off after IBIT. The fund liquidated BTC worth $145.69 million. Ark & 21Shares ARKB sold bitcoin worth $60.46 million, while Grayscale’s BTC cashed out $55.97 million from its holdings.
Grayscale’s GBTC sold Bitcoin worth $22.66 million, while Invesco’s BTCO sold part of its stash worth $16.83 million. Bitwise saw outflows worth $13.65 million, while WisdomTree’s BTCW and Franklin’s EZBC had the least amount of negative flows, worth $11.52 million and $9.69 million, respectively. VanEck’s HODL and Valkyrie’s BRRR did not record any flows on 26th February.
Despite the massive selloff, IBIT leads other ETFs with a significant margin. The ETF has $48.33 billion in net assets under management as of 26th February. Grayscale’s GBTC claims second place with $16.58 billion in net assets, while Fidelity’s FBTC claims the third spot with $16.58 million. U.S. spot Bitcoin ETFs have cumulative total net assets under management worth $95.16 billion, which is equivalent to 5.69% of the digital asset’s total market cap.
The sell-off witnessed in the approved US spot ETFs has been reflected in Bitcoin’s price. According to data from CoinMarketCap, BTC has dipped by 3.3% in the last 24 hours, bringing its seven-day decline to 11.69%. The price has declined below the $90k price that has been holding since November last year. Bitcoin is trading at $85,779.
U.S. spot Ethereum ETFs record $94 million in negative flows
U.S. Spot Ethereum ETFs also witnessed negative flows. According to Sosovalue, the Funds saw a total of $94.27 million flow in the liquidation transactions. The outflows recorded on 26 February mark a five-day streak of negative flows that began on February 20th. BlackRock’s ETHA recorded the largest outflows on 26 February, amounting to $69.76 million. Fidelity’s ETH ETF FETH had the second largest outflow, worth $18.38 million.
Bitwise’s ETHW and Grayscale’s ETHE recorded the least amount of outflows, worth 2.81 million and 3.31 million respectively. Grayscale’s ETH, VanEck’s ETHV, Franklin’s EZET, Invesco’s QETH, and 21Shares’ CETH did not witness any flows that day.
The sell-off has also reflected on Ethereum’s price which is currently down 14% in the last seven days and 5.46% in the last 24 hours. Ethereum is exchanging hands for $2,338 at the time of this publication.
BlackRock’s ETHA is the largest Ethereum ETF, with a total of $3.04 billion in net assets under management. Grayscale’s ETHE is the second largest Ethereum Fund with 2.98 billion, while Grayscale’s ETH trails in third with $1.11 billion in net assets. Fidelity’s ETH ETF FETH is fourth with $1.04 billion in net assets. U.S. spot Ethereum ETFs cumulatively hold 8.56 billion in total net assets, representing about 3.03% of Ethereum’s total market cap.
Cryptopolitan Academy: Coming Soon - A New Way to Earn Passive Income with DeFi in 2025. Learn More
