Bitcoin ETF records more than $3.6 billion in leaks over the last two weeks

Within the past two weeks, the US Spot Bitcoin Exchange Trading Fund (ETF) market has witnessed a massive outflow. Investors have consistently withdrawn funds amid minimal or negative price movements in Bitcoin (BTC).

Spot Bitcoin ETF has recorded more than $3.6 billion in spills since February 10th, according to data from Farside Investors. These funds have witnessed a one-day inflow from 12 trading days since February 10th.

ETF has a $3.6 billion outflow

On February 25th, the Spot Bitcoin ETF Market witnessed the largest day-long spill ever. Cryptopotato reported that the total funds withdrawn from the product were $938 million. However, recent discoveries reveal that the spill is much more than that.

An update on the Farside Investors site revealed that the leak was over $1.138 billion. As mentioned earlier, FBTC accounted for the largest outflow at $344.7 million, while IBIT saw the second largest at $164.4 million.

It is worth mentioning that BlackRock’s IBIT broke its record of the biggest spill of $332.6 million on January 2nd. On February 26, the ETF saw a withdrawal of over $418 million, recording new daily spills.

Before Farside Investors updated the data, the site showed that ARKB on ARK Invest had not recorded any influx or outflows on February 25th. However, the latest data shows that the fund actually saw a withdrawal of over $126 million.

Similarly, previous data showed that Coinshares Valkyrie’s BRRR recorded a $205.2 million outflow. However, a recent update shows a total of $100 million withdrawals. The same thing accounted for a $85.8 million outflow in Grayscale’s Bitcoin Mini Trust ETF (BTC).

Other spot Bitcoin ETF outflows remain the same after the update, with Vaneck’s Hodl still accounting for the lowest withdrawal of $10 million.

BTC is below $83,000

Spot withdrawal Bitcoin ETFs are increasing over time, with some of the biggest numbers recorded this week increasing. A total of $539 million was spotted on Monday, with withdrawals of over $1.138 million and $754 million respectively on Tuesday and Wednesday.

These spills contribute to BTC, which is below $83,000 for the first time in over three months. The assets have struggled this week, rebounding slightly from a 7% decline before changing hands at $85,570 at the time of writing.