US spot Bitcoin ETFs log fourth straight month of net outflows; assets fall to $84.3B from $170B peak

US spot Bitcoin ETFs are on track for a fourth consecutive month of net outflows in February, with total assets dropping to about $84.3 billion from an October 2025 high near $170 billion and cumulative net inflows easing to roughly $54 billion from a $63 billion peak, flow data cited in the report show. Between February 12 and February 19, the funds shed 11,042 BTC in net redemptions, including a single-day outflow of 6,120 BTC on February 12 (around $416 million at the time), while BlackRock's IBIT holdings declined from 806,000 BTC to 759,000 BTC and Fidelity's FBTC slid from 213,000 BTC to 186,000 BTC. The analysis notes Bitcoin's price has fallen more sharply than ETF balances and that flows have rotated between Bitcoin and gold ETFs over the past two years as investors respond to elevated real yields and restrictive Federal Reserve policy, with some observers arguing more durable ETF inflows may require a clear turn toward easier financial conditions.