Bitcoin (CRYPTO: $BTC) exchange-traded funds (ETFs) have experienced their biggest single-day outflow in three weeks as investors move away from risk assets.
On March 26, investors withdrew a combined $171.12 million U.S. from a dozen U.S.-listed spot BTC ETFs, the largest one-day outflow in nearly a month, according to data from SoSoValue.
BlackRock’s popular iShares Bitcoin Trust ETF (NASDAQ: $IBIT) saw $41.92 million U.S. in outflows, while other funds recorded withdrawals in the $20 million U.S. to $30 million U.S. range.
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Launched in 2024, the spot ETFs allow investors to gain exposure to Bitcoin’s price movements without having to own the cryptocurrency directly.
The ETF pullback comes as crypto prices fall alongside stocks with the Iran war continuing and crude oil prices back at $110 U.S. a barrel.
Bitcoin’s price has fallen near $65,000 U.S. from a peak of $75,000 U.S. a week ago. Data shows a growing number of individual retail investors are fleeing BTC in favor of safe havens.
Analysts at Glassnode say that retail investors appear to be capitulating on Bitcoin, while institutions wait on the sidelines amid rising market uncertainty.
There is also a large options expiry taking place with Bitcoin on March 27, potentially leading to greater volatility for the biggest cryptocurrency by market capitalization.