US spot Bitcoin ETFs shed $1.42 billion in net outflows last week, making it the third largest weekly exodus these funds have ever recorded. It wasn’t an isolated event, either. This was the third consecutive week of heavy redemptions, pushing the three-week total past $3.5 billion.
The numbers behind the selloff
BlackRock’s IBIT, the largest spot Bitcoin ETF by assets, was responsible for the lion’s share of the damage. The fund accounted for approximately $966 million in outflows during the week, with single-day redemptions reaching as high as $448 million.
Across all spot Bitcoin ETFs, funds collectively sold around 19,021 BTC during the period. That’s roughly equivalent to 42 days of newly mined Bitcoin supply hitting the market all at once.
Bitcoin’s price reflected the pressure, oscillating between $73,500 and $76,900 throughout the week. The Crypto Fear & Greed Index sat firmly in “fear” territory, which tracks with the broader mood among market participants.
