Spot Bitcoin ETFs in the U.S. saw more net outflows on Feb. 19 as Bitcoin struggled amid delays in crypto regulations and ongoing geopolitical tensions, like the U.S.-China tariff disputes, keeping the market in a consolidation phase.
According to data from SoSoValue, the 12 spot Bitcoin ETFs recorded $71.07 million in outflows on Wednesday, extending their outflow streak to two consecutive days with $60.63 million exiting the funds the previous day.
The majority of outflows came from Fidelityโs FBTC which saw $48.39 million withdrawn by investors followed by Valkyrieโs BRRR, ARK 21Sharesโ ARKB and VanEckโs HODL which saw $9.27 million, $8.65 million and $4.77 million in net redemptions.
The remaining eight BTC ETFs including BlackRockโs IBIT the largest BTC ETF in terms of net assets saw zero flows on the day.
These investment products experienced a dip in trading activity, with daily volume rising to $2.05 billion on Feb. 19, down from $2.83 billion the previous day.
Meanwhile, the nine spot Ethereum ETFs continued their positive streak, with inflows tripling from the previous day to reach $19.02 million on Feb. 19. The entire inflows came from Fidelityโs FETH, which recorded $24.47 million. However, Grayscaleโs ETHE saw $5.45 million in net redemptions, partially offsetting the gains. The other ETH ETFs remained neutral for the day.
This mixed market scenario highlights a broader shift in sentiment, with Bitcoin falling below $95,000 recently as part of a continued downtrend since hitting its all-time high of $109,200 last month. A major factor driving this decline seems to be fading optimism about the possible creation of a Strategic Bitcoin Reserve in the U.S. under a potential Trump administration.
Profit-taking by short-term investors, along with delayed crypto regulations and geopolitical tensionsโsuch as U.S.-China tariff conflictsโare also extending Bitcoinโs consolidation phase, even though historical post-halving cycles often precede rallies.
Commenting on the recent situation surrounding Bitcoin ETFs, Hillary Alder, co-founder and CCO of BitcoinOS, told crypto.news that the sharp outflows in recent days suggest investors are taking profits and repositioning due to macroeconomic factors.
Alder added that another key driver is the โwaning confidence in Trump approving a Strategic Bitcoin Reserve in the U.S.โ
At press time Bitcoin (BTC) was up 1.6% over the past day, exchanging hands at $97,122 while Ethereum (ETH) has also risen 1.4% trading at $2,729 per coin.
