Bitcoin ETFs posted $585 million in outflows, ending a six-week inflow streak. Meanwhile, BTC trades near a critical level, signaling a potential breakout.
Bitcoin ETFs See $585M in Outflows
For the first time in six weeks, U.S. spot Bitcoin ETFs recorded net outflows, according to Farside data. The 12 Bitcoin ETFs lost $585.65 million for the week ending February 14, marking a sharp reversal from the previous $5 billion inflow streak.
The week began with $186.28 million in outflows on February 10, followed by losses of $56.76 million, $251.03 million, and $157.78 million over the next three trading days. However, the funds ended on a slightly positive note, with $70.6 million in inflows on the last trading day.
Fidelity and BlackRock Lead ETF Inflows
Despite the overall decline, Fidelity’s FBTC pulled in $94.04 million, breaking its four-day losing streak. FBTC remains the second-best-performing spot Bitcoin ETF, with $12.5 billion in net inflows since launch.
Other notable inflows:
✅ BlackRock’s IBIT: $22.26 million
✅ Bitwise’s BITB: $7.99 million
✅ Grayscale’s mini Bitcoin Trust: $6.46 million
On the outflows side, Grayscale’s GBTC continued to struggle, losing $46.95 million, bringing its total outflows to $22.01 billion. Other ETFs also posted losses:
❌ ARK 21Shares’ ARKB: $13.19 million outflows
❌ VanEck’s HODL: $4.43 million outflows
Meanwhile, Bitcoin was down 2.4% for the week, trading at $95,652 at the time of writing.
Bitcoin’s Price Action: Symmetrical Triangle Signals Breakout
Over the past 24 hours, Bitcoin (BTC) has declined by 0.98%, with its price falling from $96,285 to $95,345. The cryptocurrency’s market capitalization currently stands at $1.91 trillion, with a 24-hour trading volume of approximately $17 billion.
Technical analysis suggests Bitcoin is trading within a symmetrical triangle pattern, indicating a potential breakout. If BTC moves decisively above $97,000, it could spark a strong rally. However, failure to break this resistance may result in a drop toward $94,100.
Ethereum ETFs Also Face Declines
Ethereum ETFs also saw a tough week, recording $26.26 million in outflows by February 14. However, ETH funds ended the week positively, with $11.65 million in net inflows, all flowing into Fidelity’s FETH. Other Ethereum ETFs saw no activity for the day.
At the time of writing, Ethereum was trading at $2,685, down 0.3% over the past week.
Institutional Interest in Bitcoin ETFs Is Growing
Despite short-term volatility, institutional interest in Bitcoin ETFs remains strong. According to Bitwise, the number of institutional holders of Bitcoin ETFs has surged 54.5x in the last 11 months. This suggests that, while outflows and price swings continue, long-term demand for BTC remains intact.
