On February 27, as Bitcoin fell below $80,000, U.S. spot Bitcoin exchange-traded funds continued to show outflow trends, triggering risk-averse sentiment throughout the cryptocurrency market.

Data from SoSoValue shows that 12 spot Bitcoin ETFs recorded a net outflow of $275.83 million on Tuesday, marking eight consecutive days of negative outflows, during which over $3.2 billion flowed out of these funds.

During this period, BlackRock's IBIT experienced its highest outflow day on February 26, with a net redemption amount of $418.06 million. The day before, these 12 ETFs also set a record for the highest single-day net outflow, with investors redeeming $1.14 billion.

Meanwhile, the majority of outflows on February 27 came from BlackRock's IBIT, which lost $189.02 million, followed by WisdomTree's BTCW, with outflows of $53.78 million.

Bitwise's BITB bucked the trend, with an inflow of $17.65 million, becoming the only ETF to see inflows in the past three days. Other ETFs that experienced negative inflows are as follows:

  • Valkyrie's BRRR: $12.82 million

  • VanEck's HODL: $10.58 million

  • Grayscale's GBTC: $7.26 million

  • Fidelity's FBTC: $7.25 million

  • Franklin Templeton's EZBC: $7.23 million

  • Grayscale's Mini Bitcoin Trust: $5.54 million

The other three BTC ETFs remained neutral on the day.

As of the time of writing, the daily trading volume of spot Bitcoin ETFs was $3.01 billion. Since their launch, these ETFs have seen a cumulative net inflow of $36.58 billion.

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The performance of the nine Ethereum ETFs was also poor, with a net outflow of $71.08 million on February 27, marking the sixth consecutive day of negative growth.

BlackRock's ETHA had outflows of $26.06 million, followed by Fidelity's FETH and Grayscale's ETHE, with outflows of $25.45 million and $19.57 million, respectively.

The outflows from Bitcoin and Ethereum ETFs occurred as Bitcoin (BTC) fell below $80,000 on Tuesday, marking the first time in over three months that Bitcoin has dropped below this level. This decline came amid increased global market volatility, with the cryptocurrency market facing widespread sell-offs.

During early trading hours in Asia, the leading cryptocurrency fell to $79,561, significantly down from the historical high of $109,000 set last month.

Bitcoin surged significantly after Donald Trump won the election last November. Trump's supportive stance on cryptocurrencies, including a commitment to ease regulations and make the U.S. a global cryptocurrency hub, fueled market optimism.

However, excitement has recently waned as Trump's policies (such as tariffs on trading partners) raised concerns about a global trade war. His plans for tax cuts and tightening immigration rules have also sparked inflation worries, leading to speculation that the Federal Reserve may maintain high interest rates for a longer period. Meanwhile, economic data shows that the U.S. economy is slowing down, which increases market uncertainty.