16:05 ▪
4
min read ▪ by
US spot bitcoin ETFs saw net outflows of $171.3 million on Thursday, March 26th. It was their biggest buying 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 short
- Bitcoin ETFs lost $171.3 million in one session
- The jitters around Iran have revived risk aversion
- The underlying trend remains strong, but the market remains very fragile.
A red session that breaks the pace
After a more constructive sequence in March, Bitcoin ETFs fell sharply. Withdrawals on March 26 show that some institutional investors preferred to reduce risk rather than bet on a tense weekend in the Middle East.
Specifically, BlackRock suffered outflows of $41.9 million on IBIT. Fidelity lost $32.8 million on FBTC. Bitwise gave up $33.1 million, ARK 21Shares $30.5 million, Grayscale $25.1 million. In other words, the pressure did not hit a single product. It hit almost the entire segment.
This retreat contrasts with the rest of the month. So far, US spot bitcoin ETFs have still attracted more than $1.3 billion in March, heading for their first positive month since October 2025. So one bad session isn’t enough to wipe out the big picture, but it does remind us that confidence remains jittery, uneven.
Geopolitical risk is reasserting itself
ETF declines don’t happen in a vacuum. This coincides with renewed fears of a conflict involving Iran. On March 26, Donald Trump announced a ten-day pause in attacks targeting Iran’s energy infrastructure until April 6. However, the announcement did not completely calm the markets.
The problem is the doubt. Investors pay less attention to statements than to the possibility of rapid escalation. In recent days, Reuters has reported on the deployment of additional US forces in the region, while the Associated Press agency on Friday mentioned the intensification of Israeli attacks on Tehran. In this climate, risk 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. This is not a collapse. But it is enough to trigger a defensive reflex in the most cautious allocators.
What these outflows really say about Bitcoin
However, it would be an exaggeration to consider this a complete reversal of institutional demand. Aggregated data from Farside shows that US-listed spot bitcoin ETFs are still accumulating around $56.1 billion in net inflows since their launch. So the market endured a stress session, not a general capitulation.
This is exactly what several observers have pointed out in recent days. Bloomberg Intelligence’s Eric Balchunas believes bitcoin ETFs have shown real resilience despite the price correction and recently closed to erase their net outflows for the year. This interpretation is important because it suggests that large investors are not abandoning Bitcoin. They take a breath and then come back.
The lesson of the moment is therefore more nuanced than a simple “ETFs exit, therefore Bitcoin falls”. In fact, Bitcoin remains supported by underlying demand, but remains tied to the macro and geopolitical climate. Some players like MARA are struggling to withstand the shock and end up liquidating their BTC.
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Fascinated by Bitcoin since 2017, Evariste has been constantly researching the topic. While his initial interest was in trading, he now actively seeks to understand all developments focused on cryptocurrencies. As an editor, he strives to consistently produce high-quality work that reflects the state of the industry as a whole.
DISCLAIMER OF LIABILITY
The views, thoughts and opinions expressed in this article are solely those of the author and should not be taken as investment advice. Before making any investment decision, do your own research.
