U.S. spot Bitcoin ETFs post $171M outflows, most since March 6

U.S. spot Bitcoin exchange-traded funds registered $171.2 million in net outflows on March 26, the largest daily withdrawal since March 6, according to SoSoValue. Redemptions spanned seven products, with BlackRock’s iShares Bitcoin Trust leading at $41.9 million. Funds from Fidelity, Bitwise and Ark each saw more than $30 million exit.

Spot Ether ETFs recorded $92.5 million in net outflows the same day, extending a seven-session streak of redemptions, the longest run for U.S. products since December.

Nick Ruck, research director at LVRG, characterized the Bitcoin ETF outflows as “short-term profit-taking, hedging due to macroeconomic uncertainty, and rotating capital amid broader market volatility rather than a substantial shift in long-term conviction.” He added that institutions remain interested in bitcoin and are increasingly exploring tokenized versions of traditional assets.

JPMorgan analysts led by managing director Nikolaos Panigirtzoglou said in a research note that Bitcoin is holding up better than gold and silver during the Iran war, attracting net inflows while precious-metals ETFs saw money leave.

Ark Invest adjusted positions on March 26, offloading 495,000 shares of the Ark & 21Shares Bitcoin ETF, worth about $11.2 million across two funds, based on the firm’s trade filing. The firm also trimmed holdings in Bullish by about $6.7 million and in Block Inc. by $5.1 million. The trades came during a wider pullback in large-cap technology stocks, including Alphabet, Nvidia and Meta.

Ark regularly rebalances positions to maintain diversification and generally caps any single holding near 10% of a fund’s portfolio, which can prompt sales when weights exceed targets.