Basri Caneri 
In recent days, the inflows and outflows in Bitcoin and Ethereum spot ETFs have significantly affected market movements. In this process, where investors drew attention with large fund outflows, some ETFs suffered serious value losses, while some funds stood out with positive flows.
Big Outflows in Bitcoin ETFs
On February 21, 2025, Grayscale’s GBTC fund saw outflows of $60.10 million, while the IBIT fund saw inflows of $21.60 million. In total, however, there was a net outflow of $50.40 million from Bitcoin ETFs. This trend continued on February 20, causing a sharp sell-off in the market with a total negative flow of $364.80 million.
This week’s featured flows:
- GBTC (Grayscale Bitcoin Trust): -$60.10M
- IBIT (BlackRock Bitcoin ETF): -112 million dollars
- BITB (Bitwise Bitcoin ETF): -112.7 million dollars
- Total BTC ETF Net Flow: -$50.40M
Continued outflows, especially from Grayscale, are keeping Bitcoin’s price action under pressure.
Fluctuations in Ethereum ETFs
A similar picture was observed on the Ethereum side. On February 21, outflows of $8.90 million were recorded from Bitwise ETH ETF. On February 20, Grayscale’s ETHE fund saw outflows of $10.30 million, while Fidelity’s FETH fund saw negative flows of $2.80 million.
This week’s featured flows:
- Bitwise ETH ETF (ETHW): -$8.90 million
- Grayscale ETHE: -10.30 million dollars
- Fidelity ETH ETF (FETH): +24.5 million dollars
These outflows could lead to a short-term pressure on Ethereum’s price.
How ETF Moves Affect the Market?
Spot ETFs are seen as an important entry point, especially for institutional investors. While the outflows in recent days have increased the selling pressure on the market, the continued inflows into some funds such as BlackRock’s IBIT show that institutional demand still exists.
Whether ETF inflows will pick up in the coming days will be a critical factor in determining the direction of Bitcoin and Ethereum prices.
We will continue to follow ETF movements in the crypto markets closely!
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