Bitcoin ETFs See $400 Million Wiped Out in an Instant—Is $100,000 Still Out of Reach?

▲ Bitcoin (BTC)

The spot Bitcoin (BTC) ETF market has recorded its largest capital outflow in nine months, intensifying downward pressure across the broader digital asset market.

According to multiple foreign media outlets including Decrypt and CryptoNews on February 13 (local time), approximately $410 million exited the U.S. spot Bitcoin ETF market in a single day. Amid declining crypto prices and a growing risk-off sentiment among institutional investors, the market posted its largest net outflow since May 2024.

By individual product, Fidelity’s FBTC led the decline with $128 million in outflows. Grayscale’s GBTC saw $114 million withdrawn, while ARK 21Shares’ ARKB recorded $47 million in outflows. Bitwise’s BITB and Invesco’s BTCO also experienced capital exits of $32 million and $26 million, respectively.

In contrast, BlackRock’s IBIT was the only fund to attract capital, posting net inflows of $39 million. Following the data release, Bitcoin’s price fell from around $68,000 to below $65,000, displaying sharp volatility. With institutional buying weakening, the overall spot Bitcoin ETF market showed a clear dominance of selling pressure.

Geoff Kendrick, Head of Digital Assets Research at Standard Chartered, lowered his year-end target for Bitcoin from $150,000 to $100,000. He also reduced his year-end target for Ethereum (ETH) from $7,500 to $4,000. Warning that the crypto market may undergo a final capitulation phase in the near term, Kendrick adopted a more conservative outlook for the year.

The recent outflows came amid macroeconomic uncertainty and institutional liquidity reallocation. Holdings in spot Bitcoin ETFs have declined by approximately 100,000 BTC from their peak in October last year. The market is expected to continue experiencing price corrections for a considerable period before entering a full-fledged recovery trajectory in the second half of the year.

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