US spot Bitcoin ETFs recorded a net outflow of $171.3 million on Thursday (March 26). This is their strongest redemption session since March 6, when outflows reached 348.9 million. The market remains sensitive to the slightest geopolitical shock, even after several weeks of capital returning to bitcoin.
In brief
- Bitcoin ETFs lost $171.3 million in one session
- Nervousness around Iran has reignited risk aversion
- The underlying trend remains solid, but the market remains very fragile.
A red session that breaks the rhythm
After a more constructive streak in March, Bitcoin ETFs suddenly plunged again. The withdrawals on March 26 show that some institutional investors preferred to reduce their exposure to risk rather than bet on a tense weekend in the Middle East.
In detail, BlackRock suffered $41.9 million in outflows on IBIT. Fidelity lost 32.8 million on FBTC. Bitwise sold 33.1 million, ARK 21Shares 30.5 million, Grayscale 25.1 million. In other words, the pressure hasn't hit just one product. It affected almost the entire segment.
This ebb contrasts with the rest of the month. So far, US spot Bitcoin ETFs had still attracted more than $1.3 billion in March and were heading for their first positive month since October 2025. So one bad session is not enough to erase the big picture, but it is a reminder that confidence remains nervous, not settled.
Geopolitical risk takes precedence over the rest
The decline in ETFs does not happen in a vacuum. It coincides with renewed concern around the conflict involving Iran. Donald Trump announced on March 26 a ten-day pause on attacks targeting Iranian energy infrastructure, until April 6. But this announcement did not completely calm the markets.
The problem is doubt. Investors look less at statements than at the possibility of a rapid slippage. Reuters reported in recent days the deployment of additional American forces in the region, while the Associated Press still mentioned on Friday an intensification of Israeli strikes on Tehran. In this climate, risky assets once again become vulnerable to large sell-offs.
Bitcoin has not escaped this movement. On Friday, March 27, the crypto was trading around $67,700 to $67,800. It's not a collapse. But it is enough to trigger a defensive reflex among the most cautious beneficiaries.
What these releases really say about Bitcoin
However, it would be excessive to see a complete reversal of institutional demand. Aggregated data from Farside show that U.S.-listed spot Bitcoin ETFs still have approximately $56.1 billion in net inflows since their launch. The market therefore suffered a session of stress, not a general capitulation.
This is precisely what several observers have been emphasizing in recent days. Eric Balchunas, at Bloomberg Intelligence, believes that Bitcoin ETFs have shown real strength despite the price correction and that they were recently close to erasing their net outflows for the year. This reading matters because it suggests that big investors are not abandoning bitcoin. They breathe, then come back.
The lesson of the moment is therefore more subtle than a simple “ETFs go out, therefore bitcoin falls”. In reality, bitcoin remains supported by underlying demand, but it remains plugged into the macro and geopolitical climate. Some players, like MARA, are struggling to cope and end up liquidating their BTC.
Maximize your Tremplin.io experience with our 'Read to Earn' program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.
