U.S. spot bitcoin exchange-traded funds (ETFs) have posted five consecutive weeks of net outflows, with investors pulling nearly $3.8 billion from the products over the period.
Over the past week, funds recorded net outflows of about $315.9 million, according to data from SoSoValue. The largest weekly return during this 5-week streak occurred in the week ending January 30, when spot bitcoin (BTC) ETFs recorded a net outflow of nearly $1.49 billion.
The net weekly outflow comes after the arrival of a few sessions. On Friday, Bitcoin ETFs saw inflows of about $88 million, but they were higher than the big redemption days earlier in the week. Notable withdrawals included more than $410 million on February 12, as well as additional negative sessions from February 17 to February 19, leaving the weekly total firmly negative.
As of Friday, spot bitcoin ETFs have accumulated about $54.01 billion in net inflows since launch. Total net assets were close to $85.31 billion, which is about 6.3 percent of Bitcoin’s overall market capitalization.
Related: Bitcoin ETFs Shed $166M As BTC Heads To Worst Start In Years
Institutional hedging increases Bitcoin ETF outflows.
Recent withdrawals from spot bitcoin ETFs appear to be tied to institutional positioning rather than a loss of long-term interest in the asset, according to Vincent Liu, chief investment officer at Kronos Research. The outflows reflect portfolio de-risking due to increased geopolitical tensions and broader macro uncertainty, he said.
Liu added that the flow could remain volatile in the near term. Escalating trade disputes and tariff developments have fueled a risk-averse environment in markets, making digital assets susceptible to macro headlines.
“Market gains will depend on macro events such as early jobless claims next Thursday, as weaker data could revive expectations of future rate cuts and help support sentiment currently at 14 on the Crypto Fear and Greed index,” he told Cointelegraph.
Related: Bitcoin ETFs still sitting at $53B in net inflows despite recent outflows: Bloomberg
Spot Ether ETFs see an exodus.
Spot Ether (ETH) ETFs have also faced continued selling pressure, with flows turning negative over the past five weeks as investors reduced exposure to the second-largest cryptocurrency.
Over the past week, funds recorded net outflows of about $123.4 million, according to SoSoValue data. Weekly losses followed despite occasional positive sessions. Ether ETFs posted inflows over several days, including about $48.6 million on Feb. 17 and $10.3 million on Feb. 13, but were weighed down by heavy selling earlier in the week.
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