Spot bitcoin ETFs see largest daily outflows since August, worth $536 million

U.S. spot bitcoin exchange-traded funds saw a total daily net outflow of $536.4 million on Thursday, which marks the largest single-day negative flow since Aug. 1.

According to data from SoSoValue, eight of the 12 bitcoin ETFs experienced outflows, led by $275.15 million exiting Ark & 21Shares' ARKB. Fidelity's FBTC followed with $132 million in outflows, while funds managed by BlackRock, Grayscale, Bitwise, VanEck, and Valkyrie also reported negative flows.

Spot Ethereum ETFs also reported $56.9 million in net outflows on Thursday, reversing the positive flows seen in the prior two trading days.

"The $536 million in net outflows primarily reflects a sharp surge in investor risk aversion," said Nick Ruck, director at LVRG Research. "This caution is likely driven by a combination of macroeconomic pressures, such as evolving U.S. tariff policies, and a broader market deleveraging event that has triggered significant liquidations across crypto assets." 

The bitcoin ETFs have seen outflows and smaller inflows since last Friday, coinciding with the historic crypto liquidation event that wiped out over $20 billion in leveraged positions and impacted more than 1.5 million traders.

The mass liquidations were triggered by U.S. President Donald Trump's 100% tariffs on Chinese imports. Crypto and other risk asset traders remain highly sensitive to trade headlines as U.S.-China tensions persist.

Ruck noted that ETF outflows signal increased market fragility in the near-term, and suggested that prices may face further downward pressure.

"​​I believe we're witnessing a market that 'wants' to stabilize," said Justin d'Anethan, Head of Research at Arctic Digital. "It's still grappling with two unresolved forces: uncertainty around the geopolitical path and the lingering pressure of restrictive monetary policy that hasn't quite flipped yet."

Crypto prices extended their declines today, with bitcoin falling 2.36% to $108,360 in the past day, and ether losing 2.56% to $3,900, according to The Block's crypto price data.

"Looking ahead, the market still has reason to lean optimistic," d'Anethan said. "Structurally, the inflation story is softening, and central banks are nearing their pivot point. But until we get clearer confirmation from CPI prints, policy statements, or credible diplomatic progress, expect volatility to stay elevated."