Bitcoin ETFs Record Massive Daily Outflows Amid Market Sell-Off

• Bitcoin ETFs recorded a $409.21 million outflow on March 7, with IBIT, FBTC, and ARKB leading withdrawals.
• IBIT saw a $39.85 million outflow, while FBTC experienced the largest withdrawal of $154.89 million.
• Bitcoin ETF prices declined, with IBIT falling 2.39% and FBTC dropping 2.34%, reflecting broader market weakness.

According to a recent update by SoSoValue, the Bitcoin ETF market reported a daily net outflow of $409.21 million as of March 7. The cumulative total net inflow stood at $36.14 billion, while the total value traded reached $3.97 billion. Total net assets across Bitcoin ETFs amounted to $98.48 billion, representing 5.71% of Bitcoin’s market capitalization.

IBIT, FBTC, and ARKB Lead Outflows

BlackRock’s IBIT saw a net outflow of $39.85 million, bringing cumulative net inflows to $39.57 billion. Fidelity’s FBTC recorded the largest outflow, with $154.89 million, but retained a cumulative inflow of $11.56 billion. 

ARKB, managed by Ark Invest, experienced an outflow of $160.03 million, holding cumulative inflows at $2.56 billion. Grayscale’s GBTC, which transitioned from a trust to an ETF, lost $36.46 million in net outflows, with cumulative net inflows standing at -$22.42 billion.

Bitcoin ETF prices reflected the broader market decline, with IBIT closing at $49.43, down 2.39%. FBTC ended at $75.95, a 2.34% decrease. GBTC dropped 2.34% to $68.79, while ARKB declined 2.22% to $86.89. The Grayscale BTC Trust (BTC) remained at $38.54, falling 2.33%. Other ETFs, including Bitwise’s BITB, VanEck’s HODL, and Valkyrie’s BRRR, also closed lower.

Trading Volume and Market Share Insights

IBIT led in trading volume, exchanging 59.35 million shares with $2.98 billion in value traded. FBTC followed, with 5.70 million shares traded, amounting to $438.69 million. GBTC recorded a trading volume of 3.04 million shares, equating to $212.05 million. ARKB traded 1.44 million shares with a value of $126.48 million.

IBIT held a 2.90% share of the Bitcoin market, the highest among ETFs. FBTC had 1.01%, while GBTC maintained a 0.98% market share. ARKB controlled 0.24%, with BITB at 0.20%. Other funds, including HODL, BRRR, and BTCO, accounted for smaller portions.