Against the backdrop of continuous adjustments in the cryptocurrency market, BlackRock's IBIT spot Bitcoin ETF set a record for daily net outflows of $418.1 million on February 26. This marks a continuation of the fund's daily outflow volume since its launch in January 2024, especially on the third day after the Bitcoin price plummeted, where capital outflow phenomena became increasingly evident.
Capital outflows intensify, approaching $3 billion for seven consecutive days:
As of Wednesday, BlackRock's IBIT has experienced capital outflows for seven consecutive days, totaling nearly $3 billion. This outflow volume set the second-highest record for the fund since its launch, second only to the $332.6 million outflow on January 2. According to The Block's data, BlackRock currently dominates market trading, with its trading volume accounting for 72% of the total market volume, and activity continues to escalate under price volatility.
Ethereum ETF also faces capital outflows:
Meanwhile, the outlook for the US spot Ethereum ETF is also not optimistic. BlackRock's ETHA product saw a capital outflow of $69.8 million on Wednesday, bringing the total outflow over five consecutive days close to $244.4 million. Other crypto products, such as Fidelity's FBTC and ARK Invest's ARKB, recorded outflows of $145.7 million and $60.5 million, respectively.
Market sentiment is weak, lacking institutional support:
Analysts point out that the current intensified capital outflow is closely related to the tariff plans of the Trump administration and the uncertainties they bring. In the absence of institutional support, market sentiment is low, leading to a continuous decline in cryptocurrency prices, further exacerbating the outflow trend. According to BRN analyst Valentin Fournier, the current capital outflow is 'unprecedented' and also reflects the weak state of the market.
Although the market environment is not optimistic, this also reveals the liquidity and market pressure of the spot Bitcoin ETF. Investors and traders are closely watching whether the market can regain confidence in the coming months.
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