US Bitcoin and Ethereum ETFs See Over $250 Million Outflows

U.S. spot crypto ETFs saw a sharp wave of redemptions on February 23. According to SoSoValue data, spot Bitcoin ETFs recorded about $204 million in net outflows. While spot Ethereum ETFs posted another $49.48 million in withdrawals. Together, the products lost at $253 million in a single trading day. 

The move came as Bitcoin briefly slipped below the $65K level. Amid broader market pressure linked to fresh U.S. tariff policy headlines. The sudden pullback signals that investor sentiment remains fragile. Despite strong long-term inflow trends.

Heavy Outflows Dominate Bitcoin ETFs

Bitcoin funds carried the bulk of the damage. The $203.82 million daily net outflow marked another weak session for the sector. Most major products finished the day in the red. As investors reduced exposure during the price dip. But one fund stood out. VanEck’s HODL ETF shows a modest $6.35 million net inflow. It shows that some long term investors are still buying the weakness. 

Even so, the broader picture remains cautious. BTC price volatility continues to drive short term positioning. While ETF flows are reacting quickly to macro headlines and risk sentiment. Despite the daily decline, Bitcoin spot ETFs still hold about $80.74 billion in net assets. It also represents roughly 6.26% of Bitcoin’s market capitalization. That highlights the scale of institutional involvement. Even during periods of outflows.

Ethereum ETFs Extend the Bleed

Ethereum funds also faced selling pressure. Spot ETH ETFs recorded $49.48 million in net outflows on the same day. The move mirrors recent weakness across the altcoin market. Ethereum has underperformed Bitcoin in several sessions.

Trading activity remained active. With about $724 million in daily volume across ETH ETFs. Still, the direction of flows shows investors are trimming exposure rather than adding risk. Cumulatively, Ethereum ETFs have attracted about $11.48 billion since launch. But short-term sentiment has clearly cooled.

Five-Week Outflow Streak Raises Alarms

The latest data fits into a broader trend that has started to worry market watchers. Bitcoin ETFs have now logged five consecutive weeks. It shows net outflows totaling roughly $3.8 billion. This marks the longest sustained withdrawal streak since early 2025.

Recent weeks have shown a steady pattern of de-risking. As traders react to macro uncertainty and crypto price swings. But the longer term picture still looks strong. Since launch, spot Bitcoin ETFs have accumulated more than $53.8 billion in total net inflows. That shows the structural demand remains intact.

Market Sentiment and Broader Implications

Several factors appear to be driving the recent withdrawals. Such as macro concerns, including tariff developments and broader risk-off sentiment. It has made investors cautious. Through crypto fear gauges have remained elevated. It is reflecting nervous positioning. Still, not everyone is bearish. The small inflow into VanEck’s HODL suggests some investors view the pullback as a buying opportunity. For now, ETF flows will likely remain sensitive to macro headlines. If volatility cools, institutional demand could stabilize again.

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