U.S. spot Bitcoin ETFs saw their largest withdrawal wave in the past three weeks on March 26, with net outflows of more than $170 million in a single day. Even Ark Invest, which has long been bullish on crypto, also substantially reduced its holdings of the Bitcoin ETF it co-issues with 21Shares that same day, selling nearly 500,000 shares worth about $11.2 million.
According to SoSoValue data, U.S. Bitcoin spot ETFs recorded a net outflow of $171.2 million on Thursday, marking the biggest single-day loss since March 6. BlackRock’s IBIT led with outflows of $41.9 million, and funds under Fidelity, Bitwise, and Ark also each saw outflows of more than $30 million.
Analyst: Taking profits in the short term; long-term confidence isn’t shaken
Nick Ruck, Research Director at LVRG, analyzed that this round of capital outflows reflects short-term profit-taking, defensive moves amid uncertainty in the broader economy, and capital rotation when the market is volatile—rather than any major shift in long-term investment confidence.
Nick Ruck noted that institutional investors remain cautiously optimistic about cryptocurrencies. On one hand, interest in Bitcoin continues to run high; on the other, they are gradually accepting the tokenization of traditional assets. He explained that institutional sentiment is mainly driven by macroeconomic factors, including the U.S.-Iran war and the ensuing global oil supply shortage.
Meanwhile, Ethereum spot ETFs also recorded a net outflow of $92.5 million on Thursday, marking the seventh consecutive trading day of withdrawals and setting the longest streak of losses since December 2025.
Ark reduces its own Bitcoin ETF holdings
As institutional capital repositions, Ark Invest led by Cathie Wood reduced its holdings in the ARK 21Shares Bitcoin ETF (ARKB) by 495,000 shares on Thursday, worth about $11.2 million.
On the same day, Ark also trimmed several crypto-related stocks, including selling Bullish shares for $6.7 million and Block shares for approximately $5.1 million. These moves matched the broad selling pressure across technology stocks that day, with Alphabet, Nvidia (NVIDIA), and Meta all being cut.
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