TheBlock
Spot bitcoin ETFs in the U.S. shed a combined $648.6 million on Monday — the largest single-day net outflow since January 29 — extending a week that has now drained more than $1 billion from the complex and ended a six-week run of net positive flows, according to data from SoSoValue.
The damage was concentrated. BlackRock's IBIT accounted for $448.3 million of the day's redemptions, with ARKB (Ark & 21Shares) bleeding another $109.6 million and Fidelity's FBTC losing $63.4 million. Bitwise, VanEck, Invesco, and Franklin Templeton all printed negative flows, leaving zero major U.S. spot bitcoin ETF in positive territory for the session.
Why it matters
The size of the move is less interesting than the regime change it implies. Spot bitcoin ETFs had quietly become the bid — six consecutive weeks of net inflows had pulled cumulative AUM to record levels, and the trade had stopped feeling like a one-off institutional experiment. Monday's tape broke that pattern in a single session, and the fact that IBIT, the deepest, most liquid vehicle in the complex, led the outflows is the part allocators will read most carefully.
Dominick John, analyst at Zeus Research, framed the flows as a short-term institutional risk-off rotation — profit-taking layered on top of macro anxiety, with ETFs being used as tactical liquidity tools rather than core long-term holds. Capital, in his read, is sitting on the sidelines waiting on two things: the path of U.S. Treasury yields, and the next signal from the Federal Reserve.
Market impact
The outflows landed against a fragile tape. Bitcoin slipped below $77,000 over the weekend — its lowest level in weeks — pressured by renewed U.S.–Iran tensions, rising oil prices, and the resulting inflation pass-through worry that has dragged the 10-year yield higher and made the risk-free rate look more attractive than spot BTC exposure. The Block's reporting earlier this week noted major stablecoins (USDT, USDC) have expanded in market cap, suggesting sidelined liquidity is positioning for a possible dip-buy if price revisits the $76,000–$77,000 support zone John flagged.
Frequently asked questions
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How much did spot bitcoin ETFs lose in a single day?
U.S. spot bitcoin ETFs recorded $648.6 million in net outflows on Monday, the largest single-day total since January 29, according to SoSoValue data cited by The Block.
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Which bitcoin ETF saw the biggest outflows?
BlackRock's IBIT led the session with $448.3 million in net outflows. ARKB shed $109.6 million, FBTC lost $63.4 million, and funds from Bitwise, VanEck, Invesco, and Franklin Templeton also printed negative flows.
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Why are bitcoin ETFs seeing outflows now?
Analysts at Zeus Research attribute the move to a short-term institutional risk-off rotation — profit-taking layered on macro anxiety from higher U.S. Treasury yields, rising oil prices, and renewed U.S.–Iran tensions that re-ignited inflation concerns.
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Did bitcoin price drop alongside the ETF outflows?
Yes. Bitcoin slipped below $77,000 over the weekend — its lowest level in weeks — and analysts at Zeus Research are watching the $76,000–$77,000 zone as key near-term support.
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What could reverse the ETF outflow trend?
Analysts told The Block the next inflection point is new Federal Reserve Chair Kevin Warsh and his first real communication cycle on inflation, rates, and balance-sheet policy. Stablecoin market cap expansion (USDT, USDC) also suggests sidelined capital is positioning for a possible dip-buy.
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