🌎 Bitcoin ETFs See $140 Million Outflows on February 6

Spot Bitcoin exchange-traded funds (ETFs) in the United States experienced outflows on February 6, as Bitcoin continued to trade below the crucial $100,000 level.

Bitcoin ETF Outflows Resume

According to recent data, the 12 spot Bitcoin ETFs recorded $140.3 million in outflows on Thursday, breaking a two-day streak of inflows that had totaled $407 million. Fidelity’s FBTC led the outflows with $103.25 million in redemptions, followed by Grayscale’s GBTC, which saw $42.21 million withdrawn.

Bitwise’s BITB was the only ETF to record inflows, attracting $5.15 million from investors. Other spot Bitcoin funds, including BlackRock’s IBIT, saw no net flows for the day.

Total Trading Volume Surges

The total trading volume of the 12 Bitcoin ETFs surged to $2.45 billion on February 6, up from $2.04 billion recorded the previous day.

Macroeconomic Pressure Drives ETF Outflows

Bitcoin ETFs saw renewed outflows after Bitcoin and altcoins remained under pressure on February 5, following a stronger-than-expected private payrolls report. The report came just ahead of the official nonfarm payrolls report, where economists expect job growth to slow to 154,000 jobs in January, down from 256,000 the previous month.

Crypto and stock investors closely monitor U.S. employment data, as it plays a key role in the Federal Reserve’s interest rate decisions. A strong labor market could prompt the Fed to keep rates higher for longer as inflation remains above the 2% target, potentially delaying the two rate cuts expected this year.

Bitcoin Price Update

At the time of writing, Bitcoin was trading at $97,341, down 0.5% on the day.

Ether ETFs Extend Inflow Streak

While Bitcoin ETFs faced fresh outflows, Ether ETFs recorded their seventh consecutive day of inflows on February 6, with $10.65 million entering the market—all of which went into BlackRock’s ETHA ETF, while other funds saw no net flows.

Spot Ether ETFs have seen a surge in demand over the past week, attracting over $500 million in inflows from January 30 to February 5, representing a significant portion of total inflows since launch.