Valentine’s Day was not filled with love for the Bitcoin ETF market, as fresh data exposed some surprising numbers. On Feb. 14, exchange-traded funds reported a negative net flow of 1,765 BTC, which equates to about $171.06 million, according to Lookonchain.
Fidelity, one of the more prominent players in the market, saw 982 BTC leave its Bitcoin ETF, valued at about $95.21 million. While the company still holds a sizable 207,542 BTC – worth $20.11 billion – these outflows raise questions. Are these temporary blips or is something more substantial at play?
Related
This is the fourth day in a row in which, since Feb. 10, about $650.76 million have been out of Bitcoin Spot ETFs. As things stand, cumulative total net inflow still stands at $40.05 billion, and the total net assets are worth $112.49 billion in Bitcoin.
What the tendency is there is unknown. The market balances between good news like Coinbase’s report with $2.27 billion revenue and 179% quarter-to-quarter growth of fees – these all indicated the increase in the cryptocurrency market and the inflow of new capital.
On the other hand, we have suddenly high CPI and “tariff war.”
Related
Ethereum ETFs, too, have been feeling the pressure. A net outflow of 5,514 ETH, or around $14.89 million, was recorded, with Grayscale’s ETHE taking the biggest hit, losing 11,375 ETH. As it stands, Grayscale holds 1,304,767 ETH, valued at $3.52 billion.
