Bitcoin ETFs Bleed $3.8 Billion in Historic Five-Week Outflow Streak

U.S.-listed spot Bitcoin ETFs have recorded nearly $3.8 billion in net outflows over five consecutive weeks as of February 23, 2026 — marking the longest withdrawal streak since February 2025. Last week alone, investors pulled $316 million from these funds, deepening what analysts are calling a historic pattern of persistent institutional Bitcoin selling.

Five Consecutive Weeks of Bitcoin ETF Outflows — What the Numbers Show

The current Bitcoin ETF outflows represent a sustained wave of redemptions that began the week of January 20, placing this episode among the most prolonged in the short history of U.S. spot Bitcoin ETF products. Over the full five-week period, cumulative net outflows have reached $3.8 billion — a figure that captures the breadth of investor retreat across the ETF 2026 landscape.

For comparison, a similar five-week outflow streak ran through February 2025, during which Bitcoin ETF withdrawals totaled approximately $5 billion. While the current episode matches that earlier streak in duration, its magnitude is notably lower — though both periods preceded significant market corrections in the weeks that followed.

BlackRock IBIT Leads the Bitcoin ETF Withdrawal Wave

BlackRock's iShares Bitcoin Trust (IBIT) has accounted for approximately $2.13 billion of the total $3.8 billion in outflows during the current five-week streak — making it the single largest contributor to the ongoing withdrawal wave. IBIT Bitcoin ETF redemptions of this scale represent the most prolonged outflow run the fund has experienced since its launch. For context, other funds including the Fidelity Wise Origin Bitcoin Fund (FBTC) have also registered net outflows during this period, though BlackRock IBIT outflows dominate the aggregate figures by a wide margin.

Why Institutional Investors Are Pulling Out of Bitcoin ETFs

Analysts point to a confluence of macroeconomic and geopolitical pressures driving the sustained outflow pattern, describing the retreat as reflecting "persistent institutional wariness" toward crypto assets.

Trump Tariffs and Macro Uncertainty

President Donald Trump's recent tariff announcements — including a Section 122 tariff escalation lifting rates from 10% to 15% — have rattled risk assets broadly. Trump tariffs crypto market sensitivity has spiked as institutional allocators reassess exposure to volatile assets during periods of trade policy unpredictability. The Global Uncertainty Index reached a record 106,862 in February 2026, amplifying the risk-off sentiment driving crypto ETF institutional flows lower.

US-Iran Tensions Heighten Risk-Off Sentiment

Lingering US-Iran tensions have added a geopolitical risk premium to markets, pushing institutional investors further toward defensive positioning. US-Iran tensions Bitcoin correlation has become a recurring theme in analyst commentary as bilateral diplomatic friction weighs on sentiment across speculative asset classes.

Bitcoin Technical Weakness Near $65,000

Bitcoin currently trades just under $65,000 — significantly below the $75,000 level it held during a comparable outflow episode in early April 2025. Bitcoin price $65,000 represents a technically precarious zone, with chart patterns suggesting further downside risk that has discouraged institutional re-entry into ETF products.

How Today's Bitcoin ETF Outflows Compare to 2025's Worst Streak

The February 2025 five-week streak produced $5 billion in total Bitcoin ETF withdrawals, versus the current $3.8 billion — a difference of roughly $1.2 billion. Both streaks share identical duration and both preceded notable market downturns in subsequent weeks, though the 2025 episode was more severe in dollar terms. The pattern suggests that while crypto ETF institutional flows have normalized somewhat from 2025's peak volatility, institutional Bitcoin selling remains a reliable feature of prolonged risk-off environments.

What the Bitcoin ETF Outflow Streak Means for BTC Price

With Bitcoin trading near $65,000 and five weeks of uninterrupted net outflows on record, the near-term price outlook remains pressured. The $10,000 gap between current levels and the $75,000 price during April 2025's comparable outflow period underscores how much market sentiment has deteriorated. In contrast, Solana ETF and XRP ETF products have attracted inflows during parts of this period, suggesting that institutional rotation — rather than an outright exit from crypto — may be partially explaining the Bitcoin ETF outflow data. Whether Bitcoin can stabilize above $65,000 and reverse the historic withdrawal streak will depend heavily on resolution of the macro headwinds currently dominating institutional decision-making.

Originally reported by CoinDesk.