US Spot Bitcoin ETFs Lose $938M in a Day

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US spot Bitcoin exchange-traded funds (ETFs) have experienced their largest-ever daily net outflows, as Bitcoin remains below $90,000.

According to CoinGlass data, the eleven Bitcoin funds collectively recorded a net outflow of $937.9 million on February 25, marking the sixth consecutive day of outflows.

This massive exit comes in the wake of a crypto market downturn, during which Bitcoin’s value dropped by 3.4% over the past day, hitting a 24-hour low of $86,140 after reaching an intraday peak of over $92,000.

Leading the outflow losses was the Fidelity Wise Origin Bitcoin Fund (FBTC), with a record-breaking outflow of $344.7 million. BlackRock’s iShares Bitcoin Trust (IBIT) followed closely with an outflow of $164.4 million.

The Bitwise Bitcoin ETF (BITB) saw a reduction of $88.3 million, while Grayscale’s two funds reported a combined net outflow of $151.9 million—$66.1 million from the Grayscale Bitcoin Trust (GBTC) and $85.8 million from the Bitcoin Mini Trust ETF (BTC).