The US Spot Bitcoin ETF had experienced three consecutive days of net spills over this period by February 20th, losing nearly $500 million.
According to SoSoValue data, the three-day spill began at $61.4 million on February 18th, and on February 19th it went from $71.07 million to $71.07 million. This indicates the most significant daily decline in three days.
BlackRock's IBIT experienced the largest day's withdrawal, losing $112.05 million. The next biggest spills were $908.3 million from ARKB on ARK Invest and $89.24 million from Fidelity's FBTC. With a $33.5 million outflow, Grayscale's GBTC continued its outflow streak after conversion from the trust structure. Interestingly, Bitwise's BITB inflow was $24.1 million, while Vaneck's HODL witnessed a small profit of $4.18 million.
The Bitcoin (BTC) ETF leak has sparked concern over changing investors' emotions. However, there appears to be an increase in systemic demand. The recent $436.9 million investment in BlackRock's IBIT by Abu Dhabi sovereign wealth fund Mubadara Investment Company shows long-term trust.
Additionally, Barclays also revealed its $131 million investment in IBIT as of the fourth quarter of 2024 in a filing with the Form 13F Securities and Exchange Commission on February 13.
Crypto Analyst Miles Deutscher said the inflow into Bitcoin and Ethereum (ETH) ETFs has been reduced as the market was taken into account in early demand from ETF approval and euphoria surrounding Trump. Investors are currently waiting for the next important catalyst to raise prices. This is because most of that purchasing pressure has already been realized.
Uncertainty has also increased as a result of the delay in the introduction of strategic Bitcoin reserves. Many investors expected that this would happen shortly after Donald Trump took office and perhaps promoted a new institutional influx.
Despite the leak, Bitcoin price is relatively stable at $98,000, up 1% from the last day. Long-term demand from institutions is a key aspect of monitoring as it could help Bitcoin maintain momentum in the coming months. Analysts say.