BTC ETFs Flip to $84.9M Outflow as IBIT, GBTC Shed $122.8M Combined

US-listed spot Bitcoin ETFs posted a combined net outflow of $84.9 million over the latest 24-hour session, reversing the prior day’s $21.5 million inflow, according to Coinotag. The swing was driven almost entirely by two of the category’s largest vehicles, BlackRock’s IBIT and Grayscale’s GBTC, which together shed $122.8 million.

IBIT recorded a $59.1 million outflow while GBTC lost $63.7 million, per the fund-flow data cited in the report. That combined $122.8 million redemption from the market’s two anchor products more than accounts for the session’s headline net figure, with modest inflows elsewhere only partially offsetting the drain.

Fee arbitrage still masks part of the picture

Not every product moved in the same direction. Grayscale’s lower-fee Bitcoin Mini Trust pulled in $52.8 million in fresh subscriptions, continuing the well-documented migration of investors out of the pricier GBTC structure and into the cheaper wrapper without actually reducing net Bitcoin exposure.

That dynamic complicates any read of the headline outflow number: part of the reported redemption reflects intra-issuer repositioning rather than investors exiting the asset class outright. Fidelity’s FBTC also recorded a $14.9 million outflow, adding to the pressure, while ARK 21Shares’ ARKB and Bitwise’s BITB saw no meaningful new capital and were effectively flat for the session.

Cumulative flows still favor IBIT by a wide margin

Zooming out, the lifetime tallies tell a different story than any single day’s noise. IBIT’s cumulative net inflow stands at roughly $60.2 billion, keeping BlackRock at the center of regulated Bitcoin exposure even on days when the fund bleeds capital. GBTC, by contrast, carries a cumulative net outflow of approximately $27.28 billion, the legacy of its steady post-conversion bleed since transitioning from a trust structure to an ETF.

With no mid-sized issuer stepping in to absorb redemptions concentrated in IBIT and GBTC, the group as a whole could not offset the day’s outflows. That structural concentration in just a handful of issuers, and IBIT’s outsized gravitational pull in particular, remains the defining feature of the category regardless of daily direction.

Spot price holds near $62,800 amid mixed positioning

BTC/USDT traded around $62,824.41, up 0.50% on 24-hour volume of $16.77 billion, moving between $61,544.56 and $62,941.46. Derivatives positioning skewed long at 63.9% versus 36.1% short, with funding at +0.0046% favoring longs paying shorts, according to the data cited in the report.

The 14-day RSI sat at 47.5 with the pivot point at $62,355.28, flanked by resistance levels at $63,786.64, $65,375.47 and $67,369.22, and support at $61,888.70, $60,655.87 and $57,800.19. The broader trend read as downward, consistent with a market where allocators are pulling back risk without fully unwinding core positions, effectively parking capital while awaiting a clearer catalyst before committing directionally.

Read more: IBIT’s $54.8M Inflow Masks FBTC, ARKB Outflows as BTC ETF Streak Hits Day Three