Bitcoin ETFs experienced a notable downturn on Friday, March 7, 2026, with total net outflows reaching $348.83 million. This marks a second consecutive day of heavy outflows for Bitcoin ETFs, extending to Ether, XRP, and Solana ETFs as well, suggesting a broad selloff across the crypto sector. The withdrawals reflect investors taking profits and adjusting positions after previous inflow momentum.
Fidelity's FBTC saw the largest outflows, shedding $158.54 million, followed closely by BlackRock's IBIT with $143.45 million in outflows. Bitwise's BITB experienced $22.17 million in outflows, while Grayscale's GBTC saw $9.56 million leave the fund. Despite the outflows, trading activity remained elevated, with total value traded reaching $6.50 billion. Net assets across Bitcoin ETFs closed the day at $87.07 billion.
The outflows coincide with Bitcoin's price sliding back towards $68,000 after briefly touching $74,000 earlier in the week. Crypto analytics platform Santiment noted that wallets holding between 10 and 10,000 Bitcoin had been aggressively building positions between February 23 and March 3, when prices were between $62,900 and $69,600. These same wallets began offloading once Bitcoin crossed $74,000.
Smaller investors, holding less than 0.01 Bitcoin, moved in the opposite direction, adding to their positions as prices fell. Santiment suggests that this divergence between large and small holders historically indicates more downside ahead, signaling that the correction may not yet be over. The Crypto Fear & Greed Index also dropped, further reflecting the shift in market sentiment.
