U.S. spot cryptocurrency exchange-traded funds (ETFs) recorded significant net outflows on February 28, 2026, totaling approximately $66.72 million. The selling pressure was concentrated in Bitcoin and Ethereum products, with BlackRock identified as the primary driver of the redemptions.
Bitcoin spot ETFs saw a net outflow of $27.5 million, equivalent to 408 BTC. This reversal followed two consecutive days of strong inflows, which had seen $506.6 million on February 25 and $254.4 million on February 26. BlackRock's iShares Bitcoin Trust (IBIT) accounted for the bulk of the day's Bitcoin outflows, with $32.7 million (485 BTC) exiting the fund. Smaller inflows into ARK Invest's ARKB (+$3.3M) and Franklin Templeton's EZBC (+$1.9M) were insufficient to offset the broader pullback.
Ethereum spot ETFs experienced even larger outflows, posting a net redemption of $43.0 million, or 21,217 ETH. BlackRock's iShares Ethereum Trust (ETHA) was responsible for the entire outflow amount, with other issuers showing flat activity. This highlights a pattern of more volatile institutional flow behavior for Ethereum compared to Bitcoin.
In contrast, several altcoin ETF categories bucked the trend with modest inflows. Solana ETFs attracted $1.3 million (15,141 SOL), XRP spot ETFs saw a notable $2.21 million inflow (1.57 million XRP) led by Franklin's XRPZ product, and Hedera ETFs added $272,100 (2.73 million HBAR). ETFs for DOGE, LTC, AVAX, and LINK registered zero flows for the session.
The outflows occurred on the final trading day of February, amid a backdrop of Bitcoin trading below its mid-month highs, ongoing geopolitical tensions, and ahead of the impending Clarity Act deadline. Analysts suggest the moves could represent institutional profit-taking, end-of-month rebalancing, or risk reduction ahead of a volatile weekend.
