According to the latest market data, American Bitcoin ETFs recorded a total daily outflow of $62.77 million on Friday, February 21. This latest round of withdrawals marked the fourth consecutive day (and the eighth in the last nine trading days) of observed net capital outflow.
The Grayscale Bitcoin Trust (with the ticker symbol GBTC) accounted for a larger percentage of the total outflow on Friday, with more than $60 million withdrawn to end the week. The Bitwise Bitcoin ETF (BITB) experienced the second-largest outflow on Friday, losing $16.58 million of its assets.
The Fidelity Bitcoin Fund (FBTC) was the only other exchange-traded fund to record net outflows ($12.47 million) on Friday. Notably, BlackRock's IBIT (the largest Bitcoin ETF by net assets) and VanEck's CBOE recorded positive capital inflows — $21.64 million and $4.71 million, respectively.
This daily net outflow of $62.77 million resulted in a weekly net outflow of over $559 million for American Bitcoin ETFs. It is important to note that this weekly trend was primarily driven by significant withdrawals recorded on Thursday, February 20.