Bitcoin Rally Falters Under $68,000 As Investors Pull $228 Million From Spot BTC ETFs ⋆ ZyCrypto

Cryptocurrency prices are tumbling as some investors take profits from the midweek rally to $74,000, while others shift toward safer assets amid escalating tensions in the Middle East. The conflict between the United States and Iran showed no signs of easing this week, with hostilities continuing to escalate across the region.

Bitcoin has dropped about 4.3% over the past 24 hours, hovering around $67,800 as of publication time, according to CoinGecko data.

This comes as U.S.-listed spot Bitcoin ETFs recorded their largest daily outflows in three weeks on March 5, with investors withdrawing roughly $228 million from the funds. The outflows highlight continued institutional caution toward Bitcoin, extending the risk-off sentiment that emerged after the market crash in early October.

The outflow trend was led by BlackRock’s iShares Bitcoin Trust (IBIT), which saw $89 million exit the fund on Thursday, according to data from Farside Investors. Fidelity Investments’s Wise Origin Bitcoin Fund (FBTC) followed with $48 million in outflows, while the Bitwise Bitcoin ETF (BITB) from Bitwise Asset Management recorded $46 million leaving the fund.

Thursday’s withdrawals represented the biggest single-day outflow since the $410 million exit recorded on Feb. 12. So far in 2026, cumulative inflows into spot Bitcoin ETFs stand at $3.58 billion, while total outflows have reached $4.49 billion amid a cautious macro backdrop.

Solana ETFs Show Surprising Strength Despite 57% Price Drop

Negative sentiment weighed on altcoin ETFs, with Ethereum funds recording $91 million in withdrawals. XRP and Solana ETFs also posted smaller redemptions of $6 million and $5 million, respectively.

Notably, the outflows from Solana ETFs represent their first losses since early February, although year-to-date inflows still stand at around $200 million. By comparison, XRP funds have attracted about $86 million in inflows so far this year.

According to Eric Balchunas, a senior ETF analyst at Bloomberg, Solana ETFs have attracted about $1.5 billion in cumulative inflows even though SOL’s price has fallen 57% since spot ETFs launched in July. Balchunas shared the figures in a Friday post on X.

“Yet they managed to not only accumulate $1.5 billion in flows but not really give any of it up,” Balchunas said, adding that many institutions have increased exposure to Solana in the fourth quarter of 2025. “Both are really good signs for the future,” Balchunas noted.