Bitcoin ETFs Shed $348.8M On Friday, End Week With $568.4M Net Inflows

Key Insights:

• Bitcoin ETFs ended the week of March 1st with net inflows of $568.45 million, reporting net outflows of $348.83 million on Friday.
• US crypto spot ETFs posted net outflows of $455.59 million on Friday; XRP and SOL spot ETFs also reported net outflows. LINK spot ETF was the only spot ETF that reported net inflows.
• BTC price hovered below the $69,000 mark on Friday, reflecting a nearly 4% drop below Thursday’s close.

US Bitcoin spot exchange-traded funds (ETFs) reported net outflows of $348.83 million on Friday. Thursday’s outflows stood at $227.83 million. Despite two consecutive net-outflow days, Bitcoin ETFs posted net inflows of $568.45 million through the week.

Meanwhile, Bitcoin price edged lower in Friday’s session. It closed just above $68,000 amid fears of a prolonged war and a surprising US Feb unemployment print.

Bitcoin ETFs Flows Turn Red Again: Fidelity, BlackRock Sell Big

Fidelity (CBOE: FBTC) led Friday’s outflows with a $158.54 million sell-off, data from SoSoValue shows. BlackRock (NASDAQ: IBIT) posted the day’s second-biggest sale with its $143.45 million outflow. Bitwise (NYSE: BITB) reported an outflow of $22.17 million.

On Friday, seven of the twelve ETFs reported activity, with all reporting outflows. Grayscale (NYSE: GBTC) reported outflows of $9.56 million. VanEck (CBOE: HODL) saw $5.77 million leave its fund. Ark 21Shares (CBOE: ARKB) also faced $4.52 million in outflows.

Friday’s net outflows came in bigger than Thursday’s outflows ($227.83M). The week saw three days of net inflows and two net outflows.

Bitcoin ETFs posted a weekly net inflow of $568.45 million for the week ending March 6th. The previous week saw a net inflow of $787.13 million.

US crypto spot ETFs posted $455.59 in net outflows on Friday. Ethereum (ETH) spot ETFs reported net outflows of $82.85 million, and XRP spot ETFs reported $16.62 million.

Moving ahead, Solana spot ETFs shed $8.23 million, and Chainlink (LINK) spot ETFs reported net inflows of $935.15K.

BTC Price Returns Below $69,000 Amid Rising Uncertainty

Bitcoin’s price ended Friday at $68,114, nearly 4% below Thursday’s close ($70,896). The sharp drop came amid rising fears of a prolonged war between Israel, the US, and Iran.

President Trump declared in a Friday Truth Social post that a deal with Iran would only happen if Iran surrenders. He set unconditional surrender as the sole condition.

Meanwhile, another negative headline on Friday was the labor market data for February. Non-farm payrolls fell by 92,000, significantly higher than the expected 50,000.

Unemployment rate for the month came in at $4.4%. This was higher than January’s print (4.3%) and higher year-over-year (4.2%).

Analyst Ted Pillows highlighted that major centralized crypto exchanges, including Binance and Coinbase, were selling Bitcoin. He noted the rise in Oil prices (average gas prices in the US reached $86 per gallon) and the weak job market data.

“With oil prices rising and the job market getting weak, investors are becoming risk-off again,” Pillows noted in his X post.

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