
Bitcoin’s Recent Market Trends and ETF Withdrawals
Over the last several days, Bitcoin has experienced a substantial decline, with its price dropping over 10% in the past week. Concurrently, U.S.-based spot Bitcoin exchange-traded funds (ETFs) have seen notable withdrawals, leading many to question whether these funds have played a role in the market’s recent downturn.
Despite this trend, Friday, February 28, marked a change when spot Bitcoin ETFs witnessed an influx of nearly $100 million in value. This raises the question of whether this recent capital injection indicates a shift in investor sentiment towards these cryptocurrency-based products.
Significant Withdrawals: Bitcoin ETFs Experience Losses
Recent market analysis reveals that U.S.-based spot Bitcoin ETFs recorded a daily net inflow of $94.34 million on the aforementioned Friday. This influx concluded an eight-day streak of consistent net outflows from these funds.
The ARK 21Shares Bitcoin ETF (ticker: ARKB) attracted a significant portion of this influx, with $193.7 million added. Following closely was the Fidelity Wise Bitcoin Fund (FBTC), which saw an increase of over $176 million in net assets by the week’s end. Additionally, the Bitwise Bitcoin ETF (BITB) and Grayscale Mini Trust (BTC) were among the few ETFs that experienced net inflows of $4.57 million and $5.59 million, respectively. However, BlackRock’s IBIT, the largest Bitcoin ETF by net assets, continued its recent trend of outflows, amounting to $244.5 million.
The single-day net influx of $94.34 million did little to counterbalance the weekly performance of the U.S.-based Bitcoin ETFs, which recorded a staggering negative outflow of over $2.61 billion. Prior to the recent Friday, the last instance of a daily net positive inflow in the U.S. Bitcoin ETF market was on February 14. Notably, more than $3.265 billion was withdrawn from these funds over the eight-day period, with a record daily net outflow of over $1.1 billion on February 25, marking the first time withdrawals exceeded the billion-dollar threshold since the ETFs’ inception.
Correlations Between Bitcoin’s Price and Spot ETFs
There is an evident connection between the performance of spot Bitcoin ETFs and the price of Bitcoin itself. According to CryptoQuant’s Head of Research, Julio Moreno, the exchange-traded funds have not contributed to Bitcoin’s demand growth in 2025 when compared to 2024.
By day 58 of 2025, the cumulative net inflows into Bitcoin ETFs stood at 12,100 Bitcoin (approximately $1.7 billion), a stark contrast to the 128,700 Bitcoin (around $6.3 billion) recorded in 2024. This discrepancy offers some insight into the ongoing struggles of Bitcoin’s price since the year began.
As of the latest update, Bitcoin is valued at approximately $85,400, reflecting a 1.5% increase over the past 24 hours. The interplay between Bitcoin’s valuation and the activity within spot ETFs continues to be a focal point for market analysts and investors alike.
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