Emre Yumlu 
The cryptocurrency market continues to surprise investors with its volatile nature. On February 21, 2025, notable movements were observed in Bitcoin (BTC) and Ethereum (ETH) spot ETFs. A total outflow of $50.40 million was seen from Bitcoin ETFs, while Ethereum ETFs experienced an outflow of $8.90 million. These movements have raised questions about whether the market is seeking a new direction.
Outflows from Bitcoin ETFs!
On February 21, Bitcoin investors withdrew a total of $50.40 million from spot ETFs, with notable outflows from some large funds. While there were some inflows, they couldn’t match the outflows.
Outflows:
- GBTC: –$60.10 million
- BITB: –$16.60 million
On the other hand, there were inflows totaling $26.30 million from IBIT and HODL.
- IBIT: +$21.60 million
- HODL: +$4.70 million
What’s the Situation with Ethereum ETFs?
Ethereum ETFs experienced significant outflows on February 21, with $8.90 million withdrawn from Bitwise’s ETHW fund. Other funds showed no significant inflows or outflows, remaining at zero.
How Will ETF Movements Affect the Crypto Market?
- Large outflows from Bitcoin ETFs could put downward pressure on BTC prices.
- Strong inflows into Ethereum ETFs may increase bullish expectations for ETH.
- While there have been outflows from Grayscale, investors seem to be showing more interest in newer-generation ETFs.
It will be important to closely monitor whether ETF movements continue in the coming days and how the market will react. Particularly, interest rate decisions and macroeconomic developments in the U.S. could directly influence investors’ interest in these funds.
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